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Find production functions exhibit decreasing, increasing and constant returns to scale.

Do the subsequent production functions exhibit decreasing, decreasing or constant returns to scale? You must show how you arrive at your answer.

(a) Q = 2KL

(b) Q = 5K + 5L

(c) Q = (KL)0.3

(d) Q = K1)7L0.4

Business Economics, Economics

  • Category:- Business Economics
  • Reference No.:- M917126

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