Answer to Question #50825 in Microeconomics for asif

Question #50825
For each of the following production functions, determine whether returns scales are decreasing, constant, or increasing
a. Q= 2K+3L+KL
b. Q=20K^0.6L^0.5
c. Q=100+3K+2L
d. Q=5K^a L^b, where a+b=1
e. Q= 10K^a L^b where a+b=1.2
f. Q= K/L
1
Expert's answer
2015-02-20T09:21:39-0500
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