Consider the production function q = ((K^α)+(L^α))^β. For this function to have diminishing marginal productivities and increasing returns to scale, it must be the case that: a. α>1 & αβ>1; b. α>1 & αβ1; d. α

Q: QUESTION 1 For the production function Qs = KO.4L0.3 find the returns to scale, recall that a…

A: Return to scale: It tells us that if we increase capital and labor by a factor of 't', then how much…

Q: Assume a Cobb-Douglas production function of the form: q = 10L0.24 K0.51 What type of returns to…

A: Return to scale define the level of production in the firm , so here we calculate the return to…

Q: For the production function Q = 4LK, returns to scale: is decreasing O Can be increasing,…

A: Returns to scale decribes how output changes when inputs change by a certain percentage.

Q: machines (K). The quantity of products produced in a month is given by the function Q = 3KL. Each…

A: Q = 3KL Fixed Cost = 15,000 Variable Cost = 5000

Q: Exercise 2 Do the following production functions exhibit increasing, decreasing, or constant returns…

A: Return to scale: It tells us that if we increase capital and labor by a factor of 't', then how much…

Q: H8. Which of the following production functions exhibit(s) constant returns to scale?​I. Q = Min…

A: There are CRS if the doubling the all inputs result in the double of output.

Q: A firm uses two inputs, capital (K) & labour (L). Given the production function: Q(K.L) = (KL) a) Is…

A: This is a long run production function since both the inputs of production labour and capital are…

Q: Question 1. A production function is give by q=L0.7K0.5 (a) Find RTSLK and determine whether it…

A: The rate of technical substitution (RTS) is an economic concept used to describe the relationship…

Q: Consider a production function with two inputs: f(x1,x2) = (x1)a(x2)b Suppose that a = 0.7 and b =…

A: Increasing return to scale is when the increase in input by m time increases the output by more than…

Q: Carry out the following tasks to illustrate the law of diminishing returns: i. Deduce a production…

A: The production function determines all the input bundles that produce the same output level.The…

Q: Question 2 A firm's short-run production function is given by Q=L(11 + L L²) where L is units of…

A: The average product of labor measures the output produced by each worker on average. The marginal…

Q: eek and L = Labor (number of workers)   When does the law of diminishing returns take effect?…

A: Given : Q = 50L+6L2 −0.5L3

Q: Mark launders his white clothes using the production function q=3B+G, where B is the number of cups…

A: Production function: Here B denotes the number of cups of Clorox bleach and G denotes the number of…

Q: Suppose that firms face the following production function: Q = 10 + L+K+2L/2K1/2, This production…

A: please find the answer below.

Q: Consider the following production functions • F(L,K) = LK^3  For each for these production…

A:

Q: Exercise 2 Do the following production functions exhibit increasing, decreasing, or constant returns…

A: Return to scale: It tells us that if we increase capital and labor by a factor of 't', then how much…

Q: 4) Does these production functions exhibit decreasing, constant, or in- creasing returns to scale?…

A: Due to its ability to clarify and measure the link between labor and capital, the two components of…

Q: In a relationship among total, average and marginal products, where TP is maximized:

A: The Total product (TP) implies the sum total of output produced using each nit of variable factor.…

Q: Given that the production function Q=L^0.75 K^0.25, describe the type of returns to scale exhibited…

A: Given: Q=L0.75K0.25

Q: 1. 1 Example 1: Let y = F(l, k) = l¾k₹ be the production function, p = 30, w = 10, and r = 5. Find…

A: This problem could be solved by lagrangian function. The lagrangian function is a mixture of…

Q: • Consider a production function f(r1, 12) = min{r1, 12}: When r1 < r2, please calculate the…

A: the marginal product or marginal physical productivity of an input is the change in output resulting…

Q: Which of the following equations does not represent a plausible production function?  a. F(K,L) =…

A: Production function, in the study of economics, helps in establishing a relation between maximum…

Q: 1.    A firm’s production function is Q = L1/2 K1/2 They have 16 units of capital (which is fixed in…

A: Inputs are resources that benefits the production unit in developing goods and services. In the…

Q: Exercise A.5 A company operates with production function q=K¹/2¹/2 a) What type of returns to scale…

A: Returns to scale refers to the proportional increase in output as a consequence of increasing the…

Q: A firm faces the production function: q=10L^0.32 K^0.56  (a) What kind of returns to scale does…

A:

Q: Determine the marginal productivity functions, and evaluate them when I Interpret the results. 4 and…

A: Marginal product is the change in output level due to the increment of an additional unit of input.

Q: Your firm is producing a unique product and the marginal product with respect to x1 in your function…

A: Law of diminishing marginal returns says that when one additional unit of any one of the factors of…

Q: Determine the returns to scale of this production function: F (x1, x2) = [xỉ + x]\/2 A. Constant…

A: If change in inputs changes output by an equal proportion, production function has constant returns…

Q: Problem 1: A firm has the following production function: f(L, M) = min{L, 3M) where L is the number…

A: Returns to scale is an economic concept that explains how the scale of production or the size of a…

Q: Under what conditions do the following production functions exhibit decreasing, constant, or…

A: When an increase in inputs results in a proportional increase in output, there occurs constant…

Q: Solve the exercise with a production function with diminishing returns: In this case, production…

A:

Q: For each of the production functions below, find the marginal products of both inputs, and indicate…

A: A brief introduction to the production function: A production function portrays the functional…

Q: If we duplicate all the production factors of the production function f (L,K) = L 2/3. K1/3, where L…

A: Given  Production function f(L,K)=L2/3K1/3         ......(1)

Q: QUESTION 1 For the production function Qs = K0.8L0.3 find the returns to scale, recall that a…

A: Return to scale: It tells us that if we increase capital and labor by a factor of 't', then how much…

Q: Which of the following production functions exhibits constant returns to scale (refer to activities…

A: This can be described as a concept that shows when an individual, firm, or any entity uses an…

Q: b) Suppose a business faces a production function which is of the Cobb-Douglas form: Q(L,K) = AL“ K®…

A: Given output is a function of A, L and K. When we scale all factors of production in a given…

Q: If the production function is f(x1,x2) = x1,x2. a. Show whether this production function exhibits…

A: a.  The production function is f(x1,x2) = x1.x2 f(x1,x2) = x1.x2f(λx1,λx2) = λx1 λx2f(λx1,λx2)…

Q: Q) The production function       Q = L1/2K   exhibits: Group of answer choices a) Increasing…

A: Given  Production function  Q= L1/2K       .......... (1) To know the return to scale, we increase…

Q: 2. Which of the following production functions with inputs K, L, and H exhibits Constant Returns to…

A: The firms, and businesses are considered to be important entities in an economy who are involved in…

Q: Give me answer

A: The objective of the question is to determine the conditions under which the given production…

Q: Consider several production functions below and indicate whether they exhibit constant, increasing…

A: The markets are the place where the buyers of various goods and services tend to interact and meet…