Microeconomics - Production Function Find the returns to scale of the following production functions: F(K,L) = K1/2 * L1/2 F(K,L) = A* K3/4 * L1/2 F(K,L) = 3K + 2L
Microeconomics - Production Function Find the returns to scale of the following production functions: F(K,L) = K1/2 * L1/2 F(K,L) = A* K3/4 * L1/2 F(K,L) = 3K + 2L
Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)
14th Edition
ISBN:9781305506381
Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Chapter7: Production Economics
Section: Chapter Questions
Problem 1.5CE
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Find the returns to scale of the following production functions:
F(K,L) = K1/2 * L1/2
F(K,L) = A* K3/4 * L1/2
F(K,L) = 3K + 2L
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