! (asap) 7. A firm has production function q = K²LU?+L, this firm exhibitsA. increasing return to scaleB. decreasing return to scaleC. constant return to scaleD. depends on the amount of capital and labor

The production function is a line or boundary that indicates the maximum amount of output that may…

Answered: A. increasing return to scale B.…

A. increasing return to scale B. decreasing returm to scale C. constant return to scale D. depends on the amount of capital and labor

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter7: Production, Costs, And Industry Structure

Section: Chapter Questions

Problem 28RQ: What shape of a long-run average cost curve illustrates economies of scale, constant returns to...

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! (asap)

7. A firm has production function q = K²LU?+L, this firm exhibits
A. increasing return to scale
B. decreasing return to scale
C. constant return to scale
D. depends on the amount of capital and labor

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