Do the following functions exhibit increasing, con- stant, or decreasing returns to scale? What happens to the marginal product
of each individual factor as that factor is increased and the other factor held constant?
1 answer:
Answer:
Complete question is:
Do the following functions exhibit increasing, constant, or decreasing returns to scale? What happens to the marginal product of each individual factor as that factor is increased and the other factor held constant?
a. q= 3L+2K
b. q= (2L + 2K)^.5
C. q=3LK^2
d. q=L^.5K^.5
e. q=4L^.5 + 4K
Answer:
See the attached picture
Explanation:
See the attached picture.
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