Answered: c) Show that the following production…

c) Show that the following production function exhibits increasing returns to scale Q = 20K*L² Where K = 2,L = 5 and t = 2

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

c) Show that the following production function exhibits increasing returns to scaler
Q = 20K*L² Where K = 2, L = 5 and t = 2

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