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14. Use the production matrix presented to answer the following questions. ܗ ܨ ܗ ܕ 27 23 17 12 6 3 1 101 183 99122 B2 108 69
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14)

a) From the production matrix: looking at the diagonal values, representing the (X,Y) such that (X= Y).

When we are employing (1,1) output = 3,

At (2,2) total output = 14

At (3,3) total output = 38.

Thus when the input are increased two times the total output increases more than two time. Thus the increasing returns to scale exist.

b) Budget = $100.

10X + 20Y =100

X Y Total Output
2 4 34
4 3 54
6 2 54
8 1 8
At this given budget and price level of inputs X and Y: Two options are available (X=4, Y = 3) and (X = 6, Y =2), where total output is maximised and equals 54
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