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28 Sep 2019
Do these functions exhibit increasing, decreasing or constant returns to capital and labor?
a) F(K, L) = 3K + 5L
b) F(K, L) = 2KL
c) F(K, L) = 3K^2L^ 0.5
d) F(K, L) = K^0.3L^ 0.5
e) F(K, L) = 6K^0.5L^ 0.5
Do these functions exhibit increasing, decreasing or constant returns to capital and labor?
a) F(K, L) = 3K + 5L
b) F(K, L) = 2KL
c) F(K, L) = 3K^2L^ 0.5
d) F(K, L) = K^0.3L^ 0.5
e) F(K, L) = 6K^0.5L^ 0.5
Kritika KrishnakumarLv10
28 Sep 2019
