Based on the notations and assumptions used in class, which of the following is/are TRUE regarding the production function y = ka, where 0 < a < 1? (i) It is expressed in per capita form. (ii) The function exhibits constant returns to scale. (iii) Production per worker depends on the amount of capital per worker.

Based on the notations and assumptions used in class, which of the following is/are TRUE regarding the production function y = ka, where 0 < a < 1? (i) It is expressed in per capita form. (ii) The function exhibits constant returns to scale. (iii) Production per worker depends on the amount of capital per worker.

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter9: Production Functions

Section: Chapter Questions

Problem 9.8P

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