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
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Expert's answer
2016-10-23T12:06:09-0400
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