Suppose you are given the following total product function, Ask an Expert

Economics

Suppose you are given the following Total Product Function: Q=100K^3/2 L^4/2 M^4/7,where Q is total output or units produces; K, capital; L, labor; and M, materials.; that is, this is a input factor production function.

1) Discuss the returns to scale.

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Business Economics, Economics

Category:- Business Economics
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