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ECO - Consider a CES production function given by Q = (K0.5 + L0.5)2

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Question;Q2. Text - B & B, 5th ed. Problem #6.24Consider a CES production function given by Q = (K0.5 + L0.5)2.a) Does this production function exhibit increasing, decreasing, or constant returns to scale?b) Suppose that the production function took the form Q = (100 + K0.5 + L0.5)2. Does this productionfunction exhibit increasing, decreasing, or constant returns to scale?

 

Paper#57562 | Written in 18-Jul-2015

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