Assume the generic production function Q = f (K,L) displays both decreasing returns to capital (K) and decreasing returns to labor (L) .Then
A) this production function will certainly display decreasing returns to scale.
B) this production function will certainly display constant returns to scale.
C) this production function will certainly display increasing returns to scale.
D) this production function may display increasing returns to scale.
Correct Answer:
Verified
Q1: Why do economies of scale and learning
Q2: Always Round Tire has a production function
Q4: Diminishing marginal returns occur when
A)one input is
Q5: Which of the following is true of
Q6: For many corporations,a major portion of the
Q7: Currently,the marginal cost equation for a shoe
Q8: The Springfield Bank received 1,500 inquiries following
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents