Homework Help Question & Answers

1. Below are production functions that turn capital (K) and labor (L) into output. For each...


1. Below are production functions that turn capital (K) and labor (L) into output. For each of the production functions below
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
0 0
Add a comment
Answer #1

* 10) Pflyk) K?3 ,213 , pod Flal, ak). = (dk) 93 102743 TML 1 4/3 gigabyts gncreases by Double them E o d output will gocreas

Add a comment
Know the answer?
Add Answer to:
1. Below are production functions that turn capital (K) and labor (L) into output. For each...
Your Answer:

Post as a guest

Your Name:
What's your source?

Earn Coin

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
Free Homework App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.