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Determining the production functions

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For each of the following production functions show whether it exhibits constant returns to scale. In each case y is output and K and L are inputs:

  • y = (K^1/2)(L^1/3)
  • y = 3(K^1/2)(L^1/2)
  • y = (K^1/2)  + (L^1/2)
  • y = 2K + 3L

Reference no: EM131246415

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