I NEED THIs in words not handwritten 3.1F(K,L)0.30.7030.3 03 0.1 0,7L.0.3 0.7d F(XiL)The power ofdis I it means produeth fh isexhubitingConstant return to Scale0.5 0.8F(K,L)3,20.8(SK) (AL)0.5 0.8,0.8%3D1.3 0.J 0.8こdとf(K,L)1.3DegheeProducth fu67 d is more than! (13>1) ieIncreauingheturn to Scaloexchibitsa b3.3(GK). Loto exhibets constantere turn to scaleF(OR. OL)b,6f latb =1a batbk.Lこatbこ

Answers: Note: you have already provided the questions with solutions. (3.1). FK,L=K0.3L0.7Let us…

3.1 F(K,L) 0.3. 0.7 F(At.au)= (1x3aび 0.3 0.1 0.303 0. o, 7 L. 0.3 0.7 = d F(XiL) The power o7 dis I it means producth fh is exhubiting Constaut retun to Scale 0.5 0.8 3,2 F(K,L) as 0.8 0.5 0.5 0.86.8 k .」しこ 1.3 0.J 0.8 こdc.L f(Kit) than! (13>1) ie Degree o7 d is more thanI (13>1)ie hetwrn fo Scale Increauing exehibits Produeth fa 3.3 to exhibets consta- ere turn to scale FLOK. OL) = (OK). co a, a b,6 * latb =1 atb, a b k.L %3D atb

3.1 F(K,L) 0.3. 0.7 F(At.au)= (1x3aび 0.3 0.1 0.303 0. o, 7 L. 0.3 0.7 = d F(XiL) The power o7 dis I it means producth fh is exhubiting Constaut retun to Scale 0.5 0.8 3,2 F(K,L) as 0.8 0.5 0.5 0.86.8 k .」しこ 1.3 0.J 0.8 こdc.L f(Kit) than! (13>1) ie Degree o7 d is more thanI (13>1)ie hetwrn fo Scale Increauing exehibits Produeth fa 3.3 to exhibets consta- ere turn to scale FLOK. OL) = (OK). co a, a b,6 * latb =1 atb, a b k.L %3D atb

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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