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The following are different types of production function. Determine whether each one has constant, increasing or decreasing returns to scale.

a. Q=20L+20K+50

b. Q=30L²+25K²

c. Q=40L+20K+10LK

d. Q=25L0.4K0.8

e. Q=20L0.3K0.6M0.2

Business Economics, Economics

  • Category:- Business Economics
  • Reference No.:- M91519659

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