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Ans is B
if a + b >1 then there is an increasing return to scale. Increasing return to scale means when all inputs doubles then output increases by more than double.
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Let the production function be q=ALK. The function exhibits increasing returns to scale if O A....
The production function q = k0.620.5 exhibits: a. increasing returns to scale and diminishing marginal products...
The production function q = k0.620.5 exhibits: a. increasing returns to scale and diminishing marginal products for both k and 1. b. increasing returns to scale and diminishing marginal product for 1 only. c. increasing returns to scale but no diminishing marginal productivities. d. decreasing returns to scale.
Now suppose that q = L"K". Starting by multiplying the inputs in production by D >...
Now suppose that q = L"K". Starting by multiplying the inputs in production by D > 1, derive conditions on a and b that determine whether the production function exhibits decreasing, constant and increasing returns to scale.
Q#02 Check whether the following production function exhibits (10 Marks) Constant Returns to Scale Increasing Returns...
Q#02 Check whether the following production function exhibits (10 Marks) Constant Returns to Scale Increasing Returns to scale Decreasing Returns to scale . i. Y = Kal1-a ii. Y = (KL-ay iii. Y = KOLB iv. Y = (K 1/4L 1/8), v. Y = KL
The production function 9 = k1.270.5 exhibits: a. increasing returns to scale but no diminishing marginal...
The production function 9 = k1.270.5 exhibits: a. increasing returns to scale but no diminishing marginal productivities. b. decreasing returns to scale. C. increasing returns to scale and diminishing marginal product for / only. d. increasing returns to scale and diminishing marginal products for both k and I.
If output is described by the production function , with then the production function has: (a)...
If output is described by the production function , with then the production function has: (a) diminishing returns to scale (b) increasing returns to scale (c) constant returns to scale (d) degree of returns to scale that cannot be determined from the information given. (e) None of the above We were unable to transcribe this imageWe were unable to transcribe this image
1 Can an enterprise have production function, which exhibits increasing returns to scale, constant returns to...
1 Can an enterprise have production function, which exhibits increasing returns to scale, constant returns to scale and decreasing returns to scale with the increase of output? Discuss
The following production function F(K,L) = K + (1/3)L exhibits a. increasing returns to scale. b....
The following production function F(K,L) = K + (1/3)L exhibits a. increasing returns to scale. b. constant returns to scale c. decreasing returns to scale. d. unstable (undefined) returns to scale.
QUESTION 7 The function q= 2K + L exhibits: a. constant returns to scale b. increasing...
QUESTION 7 The function q= 2K + L exhibits: a. constant returns to scale b. increasing returns to scale c. decreasing returns to scale d. any of the above depending on the values for K and L 10 points QUESTION 8 The short run is defined to be the period of time during which: a. at least one input is fixed b. all inputs are variable c. at least one input is variable d. all inputs are fixed 10...
Question 7 Consider the following production function: Q=AL' K• Assume A > 0. Further assume 0...
Question 7 Consider the following production function: Q=AL' K• Assume A > 0. Further assume 0 <a <1, and 0 <b<1. 1. What is the Marginal Product of Labor (MPL)? Is it diminishing as L increases? What is the Marginal Product of Capital (MPK)? Is it diminishing as K increases? 2. What is the Average Product of Labor (APL)? What is the Average Product of Capital (AP)? 3. What is the TRSL,K? Is the absolute value of TRSL K diminishing...
The production function for a commodity is given by Q=43x4 y , with -1<a<0 and -1<B<0...
The production function for a commodity is given by Q=43x4 y , with -1<a<0 and -1<B<0 as assumptions. O is output, x is the first factor input, and y is the second factor input. Find the marginal product associated with each factor input (assuming the other factor input does not change). Is marginal product increasing or decreasing with increased usage of the factor in question?
The production function q = k0.620.5 exhibits: a. increasing returns to scale and diminishing marginal products for both k and 1. b. increasing returns to scale and diminishing marginal product for 1 only. c. increasing returns to scale but no diminishing marginal productivities. d. decreasing returns to scale.
Now suppose that q = L"K". Starting by multiplying the inputs in production by D > 1, derive conditions on a and b that determine whether the production function exhibits decreasing, constant and increasing returns to scale.
Q#02 Check whether the following production function exhibits (10 Marks) Constant Returns to Scale Increasing Returns to scale Decreasing Returns to scale . i. Y = Kal1-a ii. Y = (KL-ay iii. Y = KOLB iv. Y = (K 1/4L 1/8), v. Y = KL
The production function 9 = k1.270.5 exhibits: a. increasing returns to scale but no diminishing marginal productivities. b. decreasing returns to scale. C. increasing returns to scale and diminishing marginal product for / only. d. increasing returns to scale and diminishing marginal products for both k and I.
1 Can an enterprise have production function, which exhibits increasing returns to scale, constant returns to scale and decreasing returns to scale with the increase of output? Discuss
Question 7 Consider the following production function: Q=AL' K• Assume A > 0. Further assume 0 <a <1, and 0 <b<1. 1. What is the Marginal Product of Labor (MPL)? Is it diminishing as L increases? What is the Marginal Product of Capital (MPK)? Is it diminishing as K increases? 2. What is the Average Product of Labor (APL)? What is the Average Product of Capital (AP)? 3. What is the TRSL,K? Is the absolute value of TRSL K diminishing...
The production function for a commodity is given by Q=43x4 y , with -1<a<0 and -1<B<0 as assumptions. O is output, x is the first factor input, and y is the second factor input. Find the marginal product associated with each factor input (assuming the other factor input does not change). Is marginal product increasing or decreasing with increased usage of the factor in question?
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