Suppose the production function for good q is given by
Where k and l are capital and labor inputs.Consider three statements about this function:
I.the function exhibits constant returns to scale.
II.the function exhibits diminishing marginal productivities to all inputs.
III.the function has a constant rate of technical substitution.
Which of these statements is true?

Question

Suppose the production function for good q is given by 
Where k and l are capital and labor inputs.Consider three statements about this function:
I.the function exhibits constant returns to scale.
II.the function exhibits diminishing marginal productivities to all inputs.
III.the function has a constant rate of technical substitution.
Which of these statements is true?

Quizplus · Accepted Answer

The Answer of Suppose the production function for good q is given by 
Where k and l are capital and labor inputs.Consider three statements about this function:
I.the function exhibits constant returns to scale.
II.the function exhibits diminishing marginal productivities to all inputs.
III.the function has a constant rate of technical substitution.
Which of these statements is true?

Suppose the Production Function for Good Q Is Given by