If a firm has the production function q = f(L, K) = L + 2K, then its technology exhibits: constant returns to scale increasing returns to scale None of the above. decreasing returns to scale increasing marginal product
If a firm has the production function q = f(L, K) = L + 2K, then its technology exhibits: constant returns to scale increasing returns to scale None of the above. decreasing returns to scale increasing marginal product
Chapter6: Proudction Costs
Section: Chapter Questions
Problem 4SQ
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If a firm has the production function q = f(L, K) = L + 2K, then its technology exhibits:
constant returns to scale
increasing returns to scale
None of the above.
decreasing returns to scale
increasing marginal product
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