State for each of the following production functions whether it has increasing, or decreasing, or constant returns to scale (pick one for each). Show how you got your answer for each one of them.
(i) Q = 20K+3L
(ii) Q = 0.5(K0.3L0.9)
(iii) Q = 4K1/8L5/8
(iv) Q = 5K2+9L2
(v) Q = min{8K,2L}
State for each of the following production functions whether it has increasing, or decreasing, or constant...
State for each of the following production functions whether it has increasing, or decreasing, or constant returns to scale (pick one for each). Show how you got your answer for each one of them. (i) Q = 3K3/5L2/5 (ii) Q = 12K2+5L2 (iii)Q = 8K+5L (iv) Q = 0.7(K0.4L0.9) (v) Q = min{4K,9L}
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)
For each of the following production functions, determine whether returns to scale are decreasing , constant, or increasing when capital and labor inputs are increased from K = L = 1 to K = L = 2 Q = 25K0.5 L0.5 Q = 2K + 3L + 4KL Q = 100 + 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
Determine whether each of the production functions below displays constant, increasing, or decreasing returns to scale: Q = 10K0.75L0.25 Q = (K0.75L0.25)2 Q = K 0.75L0.75 Q = K 0.25L0.25 Q = K + L + KL Q = 2K2 + 3L2 Q = KL Q = min(3K, 2L)
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
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
Determine whether the following production functions exhibit constant, increasing, or decreasing returns to scale. L, K, and H are inputs and Q is the output in each production function. Initially, set each input = 100 and determine the output. Then increase each input by 2% and determine the corresponding output to see if constant, increasing, or decreasing returns to scale occur. (a) Q = 0.5L + 2K + 40H (b) Q = 3L + 10K +...
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
) Show whether each of the following production functions exhibits increasing, constant, or decreasing returns to scale in ? and ?. (Assume A is a factor of production). a. (1pt) ? = ?^1/3(L^2/3) +A b. (1pt) ? = ?^1/3(L^2/3) - A