A firm has the production function q = f(L, K) = min{L2, K2}. This firm has: increasing returns to scale None of the above are correct. increasing marginal product decreasing returns to scale constant returns to scale
A firm has the production function q = f(L, K) = min{L2, K2}. This firm has: increasing returns to scale None of the above are correct. increasing marginal product decreasing returns to scale constant returns to scale
Chapter7: Proudction Costs
Section: Chapter Questions
Problem 15SQ
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![A firm has the production function q = f(L, K) = min{L2, K2}. This firm has:
increasing returns to scale
None of the above are correct.
increasing marginal product
decreasing returns to scale
constant returns to scale](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F1542e5de-e392-4bdb-9d95-e5abdf8e6267%2F09b2e9b3-932b-4a55-b33d-1c1589a661c9%2F4uezk6g_processed.jpeg&w=3840&q=75)
Transcribed Image Text:A firm has the production function q = f(L, K) = min{L2, K2}. This firm has:
increasing returns to scale
None of the above are correct.
increasing marginal product
decreasing returns to scale
constant returns to scale
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