explanation as to why the answer is correct. 25. The production function f (L, K) = (VL + VK)¨ is:A. homogeneous of degree n, where n > 1B. homogeneous of degree 1C. homogeneous of degree n, where 0

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Answered: 2 5. The production function f(L, K) =…

2 5. The production function f(L, K) = (V[ + VK)´ is: A. homogeneous of degree n, where n > 1 B. homogeneous of degree 1 C. homogeneous of degree n, where 0

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)

14th Edition

ISBN:9781305506381

Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Chapter7: Production Economics

Section: Chapter Questions

Problem 1.5CE

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explanation as to why the answer is correct.

2
5. The production function f (L, K) = (VL + VK)¨ is:
A. homogeneous of degree n, where n > 1
B. homogeneous of degree 1
C. homogeneous of degree n, where 0 <n < 1
D. homogeneous of degree 0
E. not homogeneous

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