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Category > Statistics Posted 19 May 2017 My Price 7.00

Does this production function exhibit increasing, decreasing, or constant returns to scale?

10.     In Example 6.4, wheat is produced according to the production function

 q  = 100(K0.8L0.2)

a.    Beginning with a capital input of 4 and a labor input of 49, show that the marginal product of labor and the marginal product of capital are both decreasing.

b.    Does this production function exhibit increasing, decreasing, or constant returns to scale?

 

Answers

Alpha Geek
(8)
Status NEW Posted 19 May 2017 12:05 PM My Price 7.00

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file 1495196573-Answer.docx preview (178 words )
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