Give me correct answer with full explanation otherwise i give down voteNote:-Please avoid using ChatGPT and refrain from providing handwritten solutions; otherwise, I will definitely give a downvote. Also, be mindful of plagiarism.Answer completely and accurate answer.Rest assured, you will receive an upvote if the answer is accurate. ←Suppose the production of DVD players can be representedby the following production function: q = L K0.4. Which of0.4 0.4the following statements is TRUE?*****A. The production function has increasing returns toscale.OB. The production function has decreasing returns toscale.OC. Returns to scale vary with the level of output.OD. The production function has constant returns toscale.

The production function is the mathematical relationship between different bundles of inputs and…

Answered: Suppose the production of DVD players…

Microeconomics: Private and Public Choice (MindTap Course List)

16th Edition

ISBN:9781305506893

Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson

Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson

Chapter8: Costs And The Supply Of Goods

Section: Chapter Questions

Problem 9CQ

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Give me correct answer with full explanation otherwise i give down vote

Note:-

Please avoid using ChatGPT and refrain from providing handwritten solutions; otherwise, I will definitely give a downvote. Also, be mindful of plagiarism.

Answer completely and accurate answer.

Rest assured, you will receive an upvote if the answer is accurate.

←
Suppose the production of DVD players can be represented
by the following production function: q = L K0.4. Which of
0.4 0.4
the following statements is TRUE?
*****
A. The production function has increasing returns to
scale.
OB. The production function has decreasing returns to
scale.
OC. Returns to scale vary with the level of output.
OD. The production function has constant returns to
scale.

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