1. Show that the two-input Cobb-Douglas production function used in this lecture has DRS, CRS or IRS depending on whether a + az is smaller than, equal, or larger than one.
1. Show that the two-input Cobb-Douglas production function used in this lecture has DRS, CRS or IRS depending on whether a + az is smaller than, equal, or larger than one.
Chapter10: Cost Functions
Section: Chapter Questions
Problem 10.9P
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