The firm Electrika produces electric cars using a technology that can be represented by the following production function where A > 0. q = AK ³ L³ Which of the following statements is true? (6 points) (a) The production function exhibits constant returns to scale (b) The production function exhibits decreasing returns to scale (c) The production function exhibits increasing returns to scale (d) None of the above
The firm Electrika produces electric cars using a technology that can be represented by the following production function where A > 0. q = AK ³ L³ Which of the following statements is true? (6 points) (a) The production function exhibits constant returns to scale (b) The production function exhibits decreasing returns to scale (c) The production function exhibits increasing returns to scale (d) None of the above
Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter5: Inverse, Exponential, And Logarithmic Functions
Section5.6: Exponential And Logarithmic Equations
Problem 14E
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