If output is described by the production function , with then the production function has: (a)...

Question

Question

If output is described by the production function $Y = L^{\alpha }K^{\beta }$ , with $\alpha + \beta < 1$ 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

Answer 1

Answer #1

a) binuihina uhunt scale also inurae os

Answer 2

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