Under what conditions do the following production functions exhibit decreasing, constant, or increasing returns to scale? a. q = L + K b. q = L + LaKb + K

Q: Suppose the production function is Y = f(K, AN) and the economies of scale are invariant . When will…

A: Y = f(K, AN)

Q: Question 3 For each one of the following production function determine whether it has constant,…

A: We have given production function where each one is a function of both L and K.

Q: Professor Steven and Professor John are going to produce a new introductory textbook. They face the…

A: Given: Production Function: q=S1/2J1/2 Number of hours spent by smith (S)=900 Smith's value of…

Q: Show that increasing returns to scale can co-exist with diminishing marginal productivity

A: Meaning of Law of Variable Proportions: The term law of variable proportions refers to the…

Q: Country A and Country B both have the production function: Y = F(K,L) = K^(1/3)L^(2/3). a) Does this…

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…

Q: 37. Which of the following is the interpretation of production function Y = F (K, L)? a. Output…

A: Meaning of Production Function: The term production function refers to the situation under which a…

Q: Determine whether the following production function exhibits increasing, constant or decreasing…

A: The production of goods, and services is done by the business firms in the economy. The firms tend…

Q: O LounchPad • Country A and country B both have the production function Y = F(K, L) = K/³L?/3. %3D…

A: A production function has constant return to scale if the inputs and the outputs change by the…

Q: Explain each of the following: constant returns to scale;  decreasing returns to capital; and…

A: The term "returns to scale" in economics describes the speed at which a change in output causes a…

Q: Given the production function Y= AF (L, K, H, N), explain the determinants of productivity. (…

A: A production function is a functional relationship between the inputs which are used in the process…

Q: Which of the following equations does not represent a plausible production function?  a. F(K,L) =…

A: Production function, in the study of economics, helps in establishing a relation between maximum…

Q: Question 5.05 For the production function Q = 4LK, returns to scale: Select one: O Is decreasing.…

A: Production function shows relationship between output and inputs used.

Q: 1. For each of the following production functions, determine whether there areincreasing, constant…

A: A production function shows the maximum level of output that can be produced with the help of…

Q: Does the production function 50 q = 1000L - exhibit increasing, decreasing, or constant returns to…

A: Production function refers to a functional relationship between input and output.

Q: Which of the following statements is (are) correct? (x)  Economists distinguish between short run…

A: Short run and Long run are related to the time period of a business or firm.

Q: Use the diagram of production function to explain why variable costs increases at a decreasing rate…

A: Cost are of production two types: Variable cost and the Fixed cost. Variable cost is the cost that…

Q: Question 5 Which of the following production functions exhibit increasing return to scale?…

A: There are three types of returns to scale- Increasing returns to scale The constant return to…

Q: 4.7 When to Use the Principle of Diminishing Returns? You are the manager of a firm that produces…

A: Return to Scale: The return to scale refers to the behavior of output when there is a change in all…

Q: Question 24 Consider the following production function when K is fixed. (This is a description of…

A: False, the production function does not satisfy the law of decreasing marginal returns to labor.

Q: hen a production function exhibits constant returns to scale, it means that: A. a proportional…

A: Constant returns to scale production function means that the production function is…

Q: Consider a short run production function q=7L+K  using L units of labour and K units of capital.…

A: Consider a short-run production function q=7L+K  using L units of labour and K units of capital. 1)…

Q: Which of the following is an implicit cost of production?   16:   A)  the utility bill paid to…

A: please find the answer below.

Q: Do the following production functions have increasing, decreasing, or constant returns to scale?…

A:

Q: Consider the production function Y = K1/2 N12 a. Compute output when K = 49 and N = 81 b. If both…

A: Plugging given values, Y = (49)1/2 x (81)1/2 Y = 7 x 9 Y = 63

Q: Draw labeled graph according to the question: The change in the optimal capital-labor ratio if both…

A: If both the inputs(labour and capital) are perfect complements in production, they are to be used…

Q: Consider a short run production function   q=cL+k   where the value for c is 4, using L units of…

A: Returns to scale exhibits increase in proportionate output when there is change in all variable…

Q: 1. For each of the following production functions, determine if the tech- nology exhibits…

A: Before answering this problem, first we will focus on returns to scale. Returns to scale describes…

Q: In the short-run, we assume that capital is a fixed input and labor is a variable input, so the firm…

A:

Q: Which of the following production functions exhibits constant return to scale?

A: The production function exhibits constant returns to scale when there is a proportionate change in…

Q: Microeconomics - Production Function Find the returns to scale of the following production…

A: In order to find the returns to scale of the production function , We put a constant before every…

Q: Consider the production function Y = z.F(K,L, A) where Y is output, z is technology, K is capital, L…

A: We are going to understand various return to scale production function to answer this question.

Q: You are given the production function: Q(K,L)=10KαLβ Does the above function exhibit increasing,…

A: The since long run alludes to a time-frame where the production function is characterized based on…

Q: Based on your understanding, does additional input of Labor entails a steady increase in the output…

A: A production function describes the relationship between the physical output of a production process…

Q: Q = A Lx Ky  (Quantity, A, Labor, Capital) If A; X; Y are all positive numbers, does the…

A: The production function exhibits Increasing return to scale, Constant return to scale or Decreasing…

Q: Consider the following production function when K is fixed. (This is a description of the figure: it…

A: To determine whether the given production function shows diminishing marginal product of labor or…

Q: Suppose that a production function for labor (L) and capital (K) is given by: q(L,K) = L K0.2  .…

A: q(L,K) = L K0.2   To find if it is increase, constant or decreasing returns to scale multiply both…

Q: Consider the following Cob-Douglas production function: f(k.1) = K°P°, where a 20 and > 0. 1. Show…

A: a) f(k,l) = kαlβf(nk,nl) = (nk)α(nl)β f(nk,nl) =nαkαnβlβf(nk,nl) =nα+β*(kαlβ)It is given that α>0…

Q: Which among these production functions exhibit increasing returns to scale? (Clue: you should scale…

A: Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: how that the two-input Cobb-Douglas production function (attached) has decreasing return in scale…

A: Answer to the question is as follows :

Q: In each blank type increasing, decreasing or constant to describe the returns to scale of the given…

A: Production function is said to have constant returns to scale when increasing the inputs by some…

Q: Given the following production function Y=X+4X^2-0.2X^3. At what level of X does the Total physical…

A: Y = x + 4x2 -0.2x3   MPP=dY/dx = 1 + 8x - 0.6x2 APP = Y/x = 1 + 4x -0.2x2   (1)MPP is maximum when…

Q: Explain any assumptions and arguments we must use in order to conjecture that firms choose the…

A: Once a firm has determined the least expensive manufacturing technology, it will consider the…

Q: Assume that the production function for a firm is defined as: 5 2 3 1 Y = K L . Does this function…

A: The following problem has been solved as follows:

Q: Given the following Cobb-Douglas production function, how much more output is produced by adding one…

A: We have given production function and level of inputs L =25 and K=100.

Q: 1) Suppose a firm uses capital, K, and labor, L, to produce output. Verify whether the following…

A: Note; Since we can only answer up to three subparts, we'll answer first three please repost the…

Q: Given the production function y=(l^p + k ^1/p )^1/p , what is the technical of substitution, the…

A: Technical of substitution. The marginal pace of technical substitution (MRTS) is a monetary theory…