Determine whether each of the production functions below displays constant, increasing, or decreasing returns to scale:...
Determine whether each of the production functions below displays constant, increasing, or decreasing returns to scale: Q = K + L + KL Q = 2K2 + 3L2 Q = KL Q = min(3K, 2L)
3. Determine whether each of the following production functions below displays constant, increasing, or decreasing returns to scale: (a) Q = 10(K0.75 0.252 (b) Q = 2K2 +312 (c) Q=K+L+KL (d) Q = min(3K, 2L) (e) Q = 10K0:250.25
5. Determine whether each of the following production functions displays constant, increasing, or decreasing returns to scale. Show workings. a) Q= 10K 0.75, 0.25 b) Q = 2K+ + 3L c) Q = (Kº75 0.25 2 d) Q=K+L+KL
Briefly show whether the following production functions exhibit increasing, decreasing, or constant returns to scale: Y = K2/3 + L2/3 Y = min {2L+K, 2K+L} Y = 20*L1/5*K4/5
2) Determine whether the following production functions exhibit constant, increasing, or decreasing returns to scale (or none of these) a) Y=K+L^1/3 b) Y= aln(L) + bIn(k)
1. State whether the following production functions exhibit increasing, constant, or decreasing returns to scale in K and L. (a) Y = K1/3L1/2 (b) Y = K2/3L (c) Y = K1/2 [1/2
1. Below are production functions that turn capital (K) and labor (L) into output. For each of the production functions below, state and PROVE whether it is Constant/Increasing/or Decreasing Returns to scale. That is, you want to see how production changes when you increase all inputs (KL) by a factor of a, where a > 1: (3 points each) (a) F(K.L) = (b) F(KL)= min (4K, 2L + 20 (c) F(K,L) = 5K+ 10L
Q#02 Check whether the following production function exhibits (10 Marks) Constant Returns to Scale Increasing Returns to scale Decreasing Returns to scale . i. Y = Kal1-a ii. Y = (KL-ay iii. Y = KOLB iv. Y = (K 1/4L 1/8), v. Y = KL
1. Returns to scale. A production function has constant returns to scale with respect to inputs with inputs K and L if for any z >0: F(z . K, z、L) = zF(K, L), For example, for a production function with constant returns to scale, doubling the anount of each input (i.e., setting z = 2) will lead to a doubling of the output from the production function. A production function has increasing returns to scale if for any z and...
Added this question before but they were not correct, please double check answers. Thank you 5. Decide whether the following production functions belong to increasing, constant, or decreasing returns to scale? Q = L+K's Q- L+395K d, e. 5. Decide whether the following production functions belong to increasing, constant, or decreasing returns to scale? Q = L+K's Q- L+395K d, e.