Assuming constant returns to scale, the equation, Y = A(t)F(K, N) can be rewritten as:Options:A) Y/N =A(t)f(K/N)B) q = A(t)f(k)C) Y/N A(t)f(KXN)=D) both a and bE) both b and c

The correct answer is D) both a and b.Here's the reasoning:1. Option A: Y/N=A(t)f(K/N)This…

Answered: Assuming constant returns to scale, the…

Managerial Economics: A Problem Solving Approach

5th Edition

ISBN:9781337106665

Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Chapter3: Benefits, Costs, And Decisions

Section: Chapter Questions

Problem 8MC

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Assuming constant returns to scale, the equation, Y = A(t)F(K, N) can be rewritten as: Options: A) Y/N = A(t)f(K/N) B) q = A(t)f(k) C) Y/N A(t)f(KXN) = D) both a and b E) both b and c