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Country A and country B both have the production function Y=F(K, L) = L0.5K0.5. Does this production function exhibit constant returns to scale?

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Yusra Anees
Yusra AneesLv10
27 Mar 2021

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Related questions

Country A and country B both have the production function:

Y = F(K,L) = K^(1/3)L^(2/3).

a) Does this production function have constant returns to scale? Explain.

b) What is the per-worker production function, y = f(k)

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d) Suppose that both countries start off with a capital stock per worker of 1. What are the levels of income per worker and consumption per worker?

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Y = 20(L.5K.4N.1)
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a) What is the level of output in this country?

b) Does this production function exhibit constant returns to scale?Demonstrate by an example.

c) If the economy is competitive so that factors of production arepaid the value of their marginal products, what share of totalincome will go to land?

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