For each of the following production functions, describe its returns to scale and provide an explanation...

Question

Question

For each of the following production functions, describe its returns to scale and provide an explanation to justify your answer.

a. w+CIPvjaXl9qgAAAABJRU5ErkJggg==

b. mxSezBbyZW7cjggAAAABJRU5ErkJggg==

c. QeevMguVHKceQf1ZJr9zsb3PHh6zL5ADhj03IEjY

business economics

Answer 1

Answer #1

Qck, L) = k tl multiply both k & L by x - XK & ALE = XCk+ L) = 10 Since power of is equal to 1, it has constant returns to s

Answer 2

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