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Which one of the graphs below represents a production function with both increasing and decreasing returns...
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
For the production function Q = 8L2K2, returns to scale: is increasing. is constant. is decreasing. n be increasing, decreasing, or constant depending on the values of L and
Output Output Input Output Output Input Input Output Input Which one of the graphs below could represent a total product curve with constant marginal returns? OC ОЕ О А The following table describes production at a local tea shop. What is the marginal product of the 3rd worker? Workers Per Day 0 2 Cups of Tea Per Day 0 75 140 200 250 3 4 125 cups of tea per day 200 cups of tea per day 60 cups of...
1. For a constant returns to scale production function: a. marginal costs are constant but the average cost curve as a U-shape b. both average and marginal costs are constant c. marginal cost has a U-shape, average costs are constant d. both average and marginal cost curves are U-shaped 2. The production function q = 10K +50L exhibits: a. increasing returns to scale b. decreasing returns to scale c. constant returns to scale d. none of the above
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 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.
Consider the following production function: q= 4L+K. Which term describe this production function's returns to scale? Select one: a. Constant Returns to Scale b. Increasing Returns to Scale c. Decreasing Returns to Scale
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.
Consider the production function below. ?? ?(?, ?) = ?? + ?? a) Find the demand for labor and capital b) Draw the demand curve for labor c) Does the production function exhibit diminishing marginal returns of labor? d) Is the production function exhibiting increasing, constant or decreasing returns to scale?
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.