According to the chief engineer at the zodiac company q al, Ask an Expert

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According to the chief engineer at the Zodiac Company, Q = AL (alpha symbol) K (beta symbol) , where Q is the output rate, L is the rate of labor input, and K is the rate of capital input. Statistical analysis indicates that (alpha) = 0:8 and (beta) = 0:3. The rm's owner claims the plant has increasing returns to scale. a.Is the owner correct? b.If were 0.2 rather than 0.3, would she be correct? c.Does output per unit of labor depend only onand ? Why or why not?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91954339

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