Which of the following production functions exhibit constant returns to scale? In each case y is output and K and L are inputs. (1) y = . (2) y = 3 . (3) y = . (4) y = 2K + 3L.
A) 1, 2, and 4
B) 2, 3, and 4
C) 1, 3, and 4
D) 2 and 3
E) 2 and 4

Question

Which of the following production functions exhibit constant returns to scale? In each case y is output and K and L are inputs. (1) y =  . (2) y = 3  . (3) y =  . (4) y = 2K + 3L.
A) 1, 2, and 4 
B) 2, 3, and 4 
C) 1, 3, and 4 
D) 2 and 3 
E) 2 and 4

Quizplus · Accepted Answer

The Answer of Which of the following production functions exhibit constant returns to scale? In each case y is output and K and L are inputs. (1) y =  . (2) y = 3  . (3) y =  . (4) y = 2K + 3L.
A) 1, 2, and 4 
B) 2, 3, and 4 
C) 1, 3, and 4 
D) 2 and 3 
E) 2 and 4

Which of the Following Production Functions Exhibit Constant Returns to Scale