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A: N = 53,856 F = 748 C1 = 1 C2 = 4
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Q: • A firm's production function is initially Q = VKL || • Over time, the production function changes…
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A: We have given production function where each one is a function of both L and K.
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A: i) Economies of scale:Economies of Scale is an economic situation where the long run average total…
Q: Define returns to scale and it's all aspects.
A: Returns to scale Returns to scale refers to the proportionality of changes in output when all inputs…
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A: "Returns to scale check how output changes when all inputs in the production process change by same…
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A: For the following questions multiply the production function with variable h to check whether if it…
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A: Since you have posted a question with multiple sub-parts, we will solve the first three subparts for…
Q: The function for total production of a certain metal at a mining operation is modeled by P(KL) = 40…
A: We are going to use profit maximization method to answer this question.
Q: Answer the attached question
A: Given, Q =KL and overtime it is changed to Q = K2L2 We can write this as Q = (KL)2 Or Q = Q2 ( as…
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A: The given statement is incorrect.
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A: Production function shows relationship between output and inputs used.
Q: What is MRTSL,K of an L-shaped isoquant? Please explain thank you!
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Q: Describe three stages of the returns to the scale
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Q: Explain what we mean by increasing, decreasing and constant returns to scale.
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Q: What factors give rise to increasing returns to scale and decreasing returns to scale?
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Q: Given: Y = 20(L.5K.4N.1) L is labor K is capital N is land L = 100 K = 100 N = 100 Does this…
A: Given data. Y = 20(L.5K.4N.1
Q: 12. Which of the following production function shows decreasing returns to scale? (a) f(r) = min{x1,…
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Q: Please explain why the law of diminishing returns applies only in the short-term period.
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A: Introduction Returns to scale refers to the how much output changes given a proportional change in…
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Q: 1. Find the returns to scale for the following production functions: a. q = K 34L_34 b. q = KLM c. q…
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Q: root of K square root N Compute output when K = 49 and N = 81. If capital and labor double, what…
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Q: Which of the following production functions exhibits constant return to scale?
A: The production function exhibits constant returns to scale when there is a proportionate change in…
Q: How would you determine that a two-input Cobb-Douglas production function has decreasing returns to…
A: Answer to the question is as follows :
Q: What are some reasons we might see increasing returns to scale?
A: When the output grows by a higher percentage than the growth in inputs during the manufacturing…
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Q: Real GDP per hour worked, YIL $40 ic 8 60 Production function, Production function, Production…
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Q: Q2. Given a production function Q =f (K, L) = K+ 2L, both capital and labour are doubled, does this…
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Q: The production function q = K1.2 + 3L1.2 exhibits [increasing return to scale, constant return to…
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Q: - production function is given by: Q (K.L) min ven this production technology, returns to scale…
A: Return to scale depicts relationship between the input and output. Return to scale can be increasing…
Q: Which among these production functions exhibit increasing returns to scale? (Clue: you should scale…
A: Since you have asked multiple question, we will solve the first question for you. If you want any…
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A: Production function shows the relationship between the input and output.
Q: How would you determine that a two-input Cobb-Douglas production function has decreasing returns to…
A: Answer to the question is as follows :
Q: Does this production function q = 9K0.8L0.1 exhibits [increasing return to scale, constant return…
A: Given: q = 9K0.8L0.1
Q: Based on the graph below, how much is the marginal product of labour of the sixth worker, if Q5=67…
A: Here, the given graph shows the number of workers and their productivity in terms of output.
Q: Assume a production function with constant returns to scale. Labour's share of income is 0.7 and…
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Q: Define the term “returns to scale”, how it is measured, and explain the three different states of…
A: find below the answer.
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Explain the expansion path when it is an increasing return to scale using graph and numbers. What does this mean?
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- Describe three stages of the returns to the scalewhich of the following production functions is an increasing, decreasing or consistent return to scale please show your work a. y=L^0.3K^0.5 b. y= LK^0.5 c. y= L + KDefine the term “returns to scale”, how it is measured, and explain the three different states of constant returns to scale, increasing returns to scale, and decreasing returns to scale.
- Does this production function q = 9K0.8L0.1 exhibits [increasing return to scale, constant return to scale, decreasing constant return to scale]i am having trouble with this macroecon question 3. i got it wrong before this is a different one.Can you please start from point e), but please show your workings/calculations how did you get to the answer. Thank you!
- The aggregate production function is Y = 3KL. If there are 20 units of capital and 50 units of labor, what is aggregate output? Group of answer choices 600 1000 150 3000How do I prove there is diminishing returns to scale?  Also is part b accurately derived? Thank you!is this an increasing/ constant/ decreasing returns to scale? explain
- What are some reasons we might see increasing returns to scale?Respond to the question with a concise and accurate answer, along with a clear explanation and step-by-step solution, or risk receiving a downvote. How to explain the relationship between returns to scale and the slope of LMC in mathematics or intuition?The aggregate production function is Y = 3KL. If there are 20 units of capital and 50 units of labor, what is labor productivity? Group of answer choices 250 150 60 100
