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Determine whether each of the production functions below displays constant, increasing, or decreasing returns to scale:...

  1. Determine whether each of the production functions below displays constant, increasing, or decreasing returns to scale:
    1. Q = 10K0.75L0.25
    2. Q = (K0.75L0.25)2
    3. Q = K 0.75L0.75
    4. Q = K 0.25L0.25
    5. Q = K + L + KL
    6. Q = 2K2 + 3L2
    7. Q = KL
    8. Q = min(3K, 2L)
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Answer #1

o g. 10 K075 0.25 This can be written as QIK,L), 1020.75 0.25 0(4k, tu), 10 (4KP 75 (41)5.05 2 +075+0.25 10.KO:15 20:25 2 + (

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