Question

For the following functions, answer if the function is homogeneous in (x , y), and if yes, what degree it is.

a. F(z,y) %3D zy-y을

b. f(x,y)= xy+ y^{^{2}}-3

c. f(x,y, z)= (x+y)^{2}+z^{2}

Does any of these three production functions display constant returns to scale?

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Answer #1

For a production function to be homogenous, f(dx, dy) = 17 (x, y) where & is the degree of the function. Also, for a producti

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