Determine whether the following production functions have, Ask an Expert

Economics

Determine whether the following production functions have Constant, Decreasing or Increasing Returns to Scale (a formal proof is required).

(a) F (K,L)= K^3+L^3

(b) F (K,L)= K^2/L^3

(d)F(K,L)=K^aL^1-a (where "a" is a parameter)

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91423982

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