Constant cost industry implies the existence of constant returns to scale.

A? Cobb-Douglas production function A. exhibits constant returns to scale. B. exhibits decreasing returns to scale....

A? Cobb-Douglas production function A. exhibits constant returns to scale. B. exhibits decreasing returns to scale. C. exhibits increasing returns to scale. D. can exhibit? constant, increasing, or decreasing returns to scale.

The production function Q = 20K0.75L0.25 exhibits A decreasing returns to scale. B constant returns to...

The production function Q = 20K0.75L0.25 exhibits A decreasing returns to scale. B constant returns to scale. C increasing returns to scale. D increasing, then diminishing returns to scale. E negative returns to scale.

1) The production function Q = 50K0.25L0.25 exhibits A. increasing returns to scale. B. constant returns...

1) The production function Q = 50K0.25L0.25 exhibits A. increasing returns to scale. B. constant returns to scale. C. decreasing returns to scale. Answer D. increasing, then diminishing returns to scale. E. negative returns to scale. 2) The production function Q = 50K0.25L0.75 exhibits A. increasing, then diminishing returns to scale. B. increasing returns to scale. C. decreasing returns to scale. D. constant returns to scale. Answer E. negative returns to scale. could you please explaing me the reason of...

Determine whether the following production functions have constant returns to scale, decreasing returns to scale, or...

Determine whether the following production functions have constant returns to scale, decreasing returns to scale, or increasing returns to scale: a) f(x1, x2)= 2x1 0.6x2 0.6 b) f(x1, x2)= x1+min(x1, x2) c) f(x1, x2)= x1 1/2+x2 1/2

What are increasing, constant, and decreasing returns to scale? How are they related to the shape...

What are increasing, constant, and decreasing returns to scale? How are they related to the shape of the long-run average cost curve?

If a firm’s production function exhibits constant returns to scale, its short-run average cost curve must...

If a firm’s production function exhibits constant returns to scale, its short-run average cost curve must be horizontal. True or False

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}

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

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

Please classify each the following production functions as increasing returns to scale (IRS), constant returns to...

Please classify each the following production functions as increasing returns to scale (IRS), constant returns to scale (CRS), or decreasing returns to scale (DRS). Technique: substitute tK and tL for K and L and check the resulting effect on output (that is, compute q after the inputs double). Remember the rules that (ab)n = anbn, and aman =am+ n. Show your work. q = L + K0.35L0.65 q = 2 + K0.35L0.65 q = L K q = L +...