If l is increased by 2 with k unchanged what is the, Ask an Expert

Economics

A shoe company has developed the production function of Q=80 L^(0.5) K^(0.6) where L represents labor and K represents capital. If L is increased by 2% with K unchanged, what is the resulting percentage change in output? Describe the nature of returns to scale for this production function.

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M9441070

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