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28 Sep 2019
Determine whether the following production function have increasing, decreasing or constant returns to scale.
a. Q = 0.001M + 50,000 (5)
b. Q = 15K +0.5KL + 30L (5)
Determine whether the following production function have increasing, decreasing or constant returns to scale.
a. Q = 0.001M + 50,000 (5)
b. Q = 15K +0.5KL + 30L (5)
Tod ThielLv2
29 Sep 2019