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Economics
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23 Nov 2019

A production with the form Q=40 L.75 K.20 will have______ in the long run.

a. increasing returns to scale

b. decreasing returns to scale

c. constant returns to scale

d. diminishing returns to the variable input

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28 Mar 2019
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Related questions

27. The Piranha Brothers Corporation produces porcelain lupines. In the long run, its production exhibits decreasing returns to scale. This decreasing returns to scale can be caused by a. management difficulties. b. a decrease in input prices. c. specialization. d. diminishing marginal returns to the variable input. c. decreasing costs.

Show whether the following production functions exhibit decreasing returns to scale (DRS), constant returns to scale (CRS), or increasing returns to scale (IRS)?

a. q = 10L0.6K0.5

b. q = L + K

c. q = L0.6 + K0.5

For each of the following functions, describe returns to scale.

A. Q = K + L

B. Q = K1/2L3/4

C. Q = K2L

Function (enter A, B, or C) exhibits increasing returns to scale.

Function (enter A, B, or C) exhibits constant returns to scale.

Function (enter A, B, or C) exhibits decreasing returns to scale.

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