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Economics

Given the production function:

O = AL^60 K^70

A) What is the increase in output if the quantity of capital rises 30% (Assume the quantity of labor and technological change are constant)

B) Is this industry exhibiting increasing, constant, or decreasing returns to scale? How do you know?

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M91230612

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