Question

For each part of this question write down a Cobb-Douglas production function with the returns to...

For each part of this question write down a Cobb-Douglas production function with the returns to scale called for and perform a proof for each that shows the production function has the correct returns to scale.

  1. Constant returns to scale

  2. Decreasing returns to scale

  3. Increasing returns to scale

  4. Increasing returns to scale

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