76 787
Assignments Done
Successfully Done
In June 2019

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
(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
Expert's answer

Need a fast expert's response?

Submit order

and get a quick answer at the best price

for any assignment or question with DETAILED EXPLANATIONS!


No comments. Be first!

Leave a comment

Ask Your question

Privacy policy Terms and Conditions