Constant returns to scale

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Reference no: EM132281169

With capital K and labor L input, there are five production functions in the following:

I. Q = L+K

II. Q = √L*K

III. Q = L*K

IV. Q = ?L*K

V. Q = L²+K²

a. Which function(s) exhibit the constant returns to scale?

b. Which function(s) exhibit the increasing returns to scale?

c. Which function(s) exhibit the decreasing returns to scale?

Reference no: EM132281169

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