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For the production function Q = 8L2K2, returns to scale: is increasing. is constant. is decreasing....
For the production function Q = 3L + K, returns to scale: is constant is increasing is decreasing Can be increasing, decreasing, or constant depending on the values of Land K.
Question 6 For the production function Q = 3L2 + K2, returns to scale: Is constant. Is increasing Can be increasing, decreasing, or constant depending on the values of Land K. is decreasing
Returns to scale in production: Do the following production function exhibit increasing, constant, or decreasing returns to scale in K and L? (Assume A is some fixed positive number.) (a) Y= K1/3L1/2 (b) Y=AK2/12/3 (c) Y= K1/2L1/2 (d) Y=K+ L (e) Y = K1/2L1/2 + L 2/3TI/3 2/3TI/3
Determine whether the following production functions exhibit constant, increasing, or decreasing returns to scale. L, K, and H are inputs and Q is the output in each production function. Initially, set each input = 100 and determine the output. Then increase each input by 2% and determine the corresponding output to see if constant, increasing, or decreasing returns to scale occur. (a) Q = 0.5L + 2K + 40H (b) Q = 3L + 10K +...
Returns to scale. A production function has constant returns to scale with respect to inputs with inputs K and L if for any z > 0: F(z · K, z ·L) = zF(K, L), For example, for a production function with constant returns to scale, doubling the amount of each input (i.e., setting z = 2) will lead to a doubling of the output from the production function. A production function has increasing returns to scale if for any z >1: F(z ·...
Does this production function, q = 10L 0.5K 0.3, experience increasing, decreasing or constant returns to scale? Decreasing because 0.5 + 0.3 < 1. Increasing because an 80% increase in inputs increases outputs by 100%. Decreasing because a 100% increase in inputs increases outputs by 80%. A and C.
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...
Determine whether each of the production functions below displays constant, increasing, or decreasing returns to scale: Q = K + L + KL Q = 2K2 + 3L2 Q = KL Q = min(3K, 2L)
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
Determine whether each of the production functions below displays constant, increasing, or decreasing returns to scale: Q = 10K0.75L0.25 Q = (K0.75L0.25)2 Q = K 0.75L0.75 Q = K 0.25L0.25 Q = K + L + KL Q = 2K2 + 3L2 Q = KL Q = min(3K, 2L)