Assume a Cobb-Douglas production function of the form: q=10L0.28K0.59 What type of returns to scale does this production function exhibit? In this instance, returns to scale equal This production function exhibits OA. increasing returns to scale. OB. constant returns to scale. (Enter a numeric response using a real number rounded to two decimal places.) OC. initially decreasing but then constant returns to scale. D. decreasing returns to scale. OE. initially constant but then decreasing returns to scale.

Assume a Cobb-Douglas production function of the form: q=10L0.28K0.59 What type of returns to scale does this production function exhibit? In this instance, returns to scale equal This production function exhibits OA. increasing returns to scale. OB. constant returns to scale. (Enter a numeric response using a real number rounded to two decimal places.) OC. initially decreasing but then constant returns to scale. D. decreasing returns to scale. OE. initially constant but then decreasing returns to scale.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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