Q= 2L^2
Multiply L by t
= 2(tL)^2
2t^2L^2
t^2*Q
Since power of t is greater than 1, the function exhibits increasing returns to scale.
Increasing returns to scale - is correct
Question 6 1 pts For the production function Q = 0.2L? returns to scale is: Zero...
Started: Nov 4 at 2:30pm Quiz Instructions 1 pts Question 6 For the production function Q = 0.2L? returns to scale is: Constant Returns to Scale Decreasing Returns to Scale Increasing Returns to Scale Zero Return to Scale
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
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
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.
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
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 ·...
No Questions Part 2 of 11 - Returns to scale Question 1 of 10 6 Points Suppose a firm's production function is Q(L,K) = (LK)2/3 + L + K. Production exhibits O A. Constant returns to scale. OB. Decreasing returns to scale. OC. Increasing returns to scale. Reset Selection Part 3 of 11 - MP and MRTS Question 2 of 10 6 Points
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
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.
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