# Answer to Question #62852 in Macroeconomics for Gian

Question #62852

The production function Y = AKαLβ with A = 2, α = 0.4 and β = 0.6 exhibits the following

properties:

(a) concavity in L

(b) convexity in L

(c) constant returns to scale in K and L (d) homogeneity of degree 1 (in K and L) (e) increasing returns in K and L

properties:

(a) concavity in L

(b) convexity in L

(c) constant returns to scale in K and L (d) homogeneity of degree 1 (in K and L) (e) increasing returns in K and L

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