Question

Do the following functions exhibit increasing, constant, or decreasing returns to scale? What happens to the...

Do the following functions exhibit increasing, constant, or decreasing returns to scale? What happens to the marginal product of each individual factor as that factor is increased and the other factor held constant?
A. Q = L1/2 K1/4

B. Q = L1/3 K 5/6

C. Q = 3LK2

Business   Economics   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Show whether the following production functions exhibit increasing, constant, or decreasing returns to scale in K...
Show whether the following production functions exhibit increasing, constant, or decreasing returns to scale in K and L. Note: “exponents add up to one, so it CRTS” is not an acceptable answer. a. Y=(K1-a + L1-a)1/a b. Y=K/L c. Y=K1/4L3/4
Do the following production functions exhibit constant returnsto scale, increasing returns to scale, or decreasing returns...
Do the following production functions exhibit constant returnsto scale, increasing returns to scale, or decreasing returns to scale? For full credit, show why. 1)Q= 10L^ 0.5K^0.3 2)Q= 10L^0.5K^0.5 3)Q= 10L^0.5K^0.7 4)Q= min{K, L}
Determine whether the following production functions exhibit increasing, decreasing or constant returns to scale. a. Q...
Determine whether the following production functions exhibit increasing, decreasing or constant returns to scale. a. Q = L + K b. Q = 10KL c. Q = L + K1/2L 1/2 + K d. Q = 10K1/4L 1/4
Do the following production functions exhibit increasing, decreasing, or constant returns to scale? Explain your answer...
Do the following production functions exhibit increasing, decreasing, or constant returns to scale? Explain your answer a. Q=16L^0.4K^0.6+K+2 B. Q=L^0.4+K^0.6
Determine which of the following production functions exhibit decreasing returns to scale, increasing returns to scale,...
Determine which of the following production functions exhibit decreasing returns to scale, increasing returns to scale, or constant returns to scale. Q = K/(L)^2 Q = 4K + 2L Q = a KL
Do the following production functions exhibit constant, increasing or decreasing returns to scale? f = k2L^2...
Do the following production functions exhibit constant, increasing or decreasing returns to scale? f = k2L^2 f = k^0.5L^0.3 f = kL-0.8k^2-0.2L^2
1. Show whether the following production functions exhibit decreasing returns to scale (DRS), constant returns to...
1. Show whether the following production functions exhibit decreasing returns to scale (DRS), constant returns to scale (CRS), or increasing returns to scale (IRS)? a. q = 10L^0.6 K^0.5 b. q = L + K c. q = L^0.6 + K^0.5
1.) Do the following production functions exhibit decreasing, constant, or increasing returns to scale? (a) f(x...
1.) Do the following production functions exhibit decreasing, constant, or increasing returns to scale? (a) f(x ,x )=x2/3x1/2 1212 (b) f(x1,x2)=5x1 +3x2 (c) f(x1,x2)=5+x1 +x2
1. Given the following production functions determine whether the production functions exhibit increasing, decreasing, or constant...
1. Given the following production functions determine whether the production functions exhibit increasing, decreasing, or constant returns to scale for all levels of output. a) Q = L0.3K0.2 b) Q = (L+0.01K)0.8 c) Q = min[2L,K]
Determine the returns to scale (increasing, constant, or decreasing) for each of the following production functions....
Determine the returns to scale (increasing, constant, or decreasing) for each of the following production functions. Q = 2L0.5K0.2   Q = 200L0.5K0.5    Q = 10L0.6K0.8   Q = 500L0.6K0.4
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT