Consider a firm with the production function F(K, L) = (Kº.5 + L0.5)2. Which of the following statements about this production function is NOT true? (a) The isoquant of the production function is linear. (b) The production function has constant returns to scale. (c) The production function has diminishing marginal product of labor. (d) The production function has a constant elasticity of substitution. (e) The average product of labor depends only on the capital-labor ratio (2).

Consider a firm with the production function F(K, L) = (Kº.5 + L0.5)2. Which of the following statements about this production function is NOT true? (a) The isoquant of the production function is linear. (b) The production function has constant returns to scale. (c) The production function has diminishing marginal product of labor. (d) The production function has a constant elasticity of substitution. (e) The average product of labor depends only on the capital-labor ratio (2).

Algebra & Trigonometry with Analytic Geometry

13th Edition

ISBN:9781133382119

Author:Swokowski

Publisher:Swokowski

Chapter7: Analytic Trigonometry

Section7.6: The Inverse Trigonometric Functions

Problem 91E

See similar textbooks