The production function feature called "increasing returns to scale" means that if we increase capital and labor by 10 percent each, we increase output by 20 percent. True or False?

Q: What are the steps to solve for K in terms of L. Given a production function of Q = 2KL, and Q is…

A: Q=2KLK=Q2L

Q: For the production function Q = 4LK, returns to scale: is decreasing O Can be increasing,…

A: Returns to scale decribes how output changes when inputs change by a certain percentage.

Q: 4. Select the production function with increasing returns to scale: A. q = (L+ 1)K B. q = (VI + VR)²…

A: To get which function has what type of scale we will scaled up the factors of production by 2 to…

Q: What is meant by production function. Why it is so significant.

A: A mathematical description of the relationship between inputs and outputs during the creation of a…

Q: Which of the following production functions demonstrates constant returns to scale? I. Q=5L+2K II.…

A: Constant returns to scale condition.Q(λK,λL)=λQ(K,L)

Q: How are increasing returns to scale for a long-run production function and a downward sloping…

A: The increasing returns to scale means that the output is rising in a larger fraction than the rise…

Q: Which of the following production functions exhibit constant returns to scale? In each case y is…

A: Given: The production functions are: 1y=K12L132y=3K12L12(3)y=k12+L12(4)y=2K+3L

Q: Show that increasing returns to scale can co-exist with diminishing marginal productivity

A: Meaning of Law of Variable Proportions: The term law of variable proportions refers to the…

Q: Which of the following production functions exhibits decreasing returns to scale? A) Q=K^1/2 L^1/2…

A: Returns to scale are used to describe how production scale changes when all the factors of…

Q: increasing, decreasing

A: A production function tends to relate the physical output of a production process to factors of…

Q: Country A and Country B both have the production function: Y = F(K,L) = K^(1/3)L^(2/3). a) Does this…

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…

Q: a) The production function q = 9KO.8LO.1 exhibi [ increasing returns to scale, constant return to…

A: Increasing returns to scale occurs when the output increases by a larger proportion than the…

Q: Which of the following production function exhibits constant returns to scale. a)q=KL b)q=KL^0.5…

A: A production function is a mathematical e­xpression that depicts the re­lationship between inputs…

Q: The production function is the relationship between the maximum amount of output that can be…

A: A production function represents how firm transforms inputs into outputs.

Q: Which of the following equations does not represent a plausible production function?  a. F(K,L) =…

A: Production function, in the study of economics, helps in establishing a relation between maximum…

Q: Does the production function 50 q = 1000L - exhibit increasing, decreasing, or constant returns to…

A: Production function refers to a functional relationship between input and output.

Q: Which of the following production functions does not display constant returns to scale? a. Q =…

A: The return to scale is a concept that describes the relationship between the scale of production or…

Q: The production function of a firm is f(x, y) = min{x, y}. This is a constant returns to scale…

A: The constant return to scale states that increasing all inputs (i.e., K and L) by a certain…

Q: A firm's production function is given by y(K, L) = 2√(KL) or 2(KL).5 (2 times the square root of the…

A: The Marginal Product of Labor (MPL) represents the change in output resulting from employing an…

Q: Show using math and logic that for constant returns to scale production functions, MRTS between…

A: Production function and productivity: The production function determines all the input bundles that…

Q: True or false. In general, production can display diminishing returns in all variables but still…

A: Diminishing returns are defined as a decrease in output due to an increase in the input after an…

Q: root of K square root N Compute output when K = 49 and N = 81. If capital and labor double, what…

A: Given; Production function; Y=K0.5L0.5 where; K= Capital  L= Labor Output produced:-…

Q: Microeconomics - Production Function Find the returns to scale of the following production…

A: In order to find the returns to scale of the production function , We put a constant before every…

Q: You are given the production function: Q(K,L)=10KαLβ Does the above function exhibit increasing,…

A: The since long run alludes to a time-frame where the production function is characterized based on…

Q: Q2. The economist for the ABC Truck Manufacturing Corporation has calculated a production function…

A: We have  Production function: Q=1.3L0.75K0.3             .... (1) Also Labor Capital 100 50…

Q: Q = A Lx Ky  (Quantity, A, Labor, Capital) If A; X; Y are all positive numbers, does the…

A: The production function exhibits Increasing return to scale, Constant return to scale or Decreasing…

Q: Q2. Given a production function Q =f (K, L) = K+ 2L, both capital and labour are doubled, does this…

A: A production function shows the relationship between the inputs used and the output produced in a…

Q: Consider the production function q=√L+8K^(3).  Starting from the input combination (3,6), does the…

A: Given information: Production function q=√L+8K3 Input combination 3,6 (L = 3 and K = 6)

Q: The production function q = 9K0.8L0.1 exhibits: a. increasing retruns to scale  b. constant…

A: The relationship between ou>tput and proportional increase in all the inputs is referred to as…

Q: Show that the following production function has constant returns to scale. It can be through a…

A: Given  Production function  y=5x11/2x21/2 We have to show that production function has constant…

Q: Suppose the production function for T-shirts can be represented as q =  L0.25 K0.75. Show that the…

A: Meaning of Production Function: The term production function refers to the situation under which a…

Q: Given the production function y=(l^p+K^p)^1/p, what is the technical rate of substitution and the…

A: