QUESTION 6 Which of the following production functions exhibit constant rehurns to scale? In each case y is output and K and L are inputs (1) y" K 12 1/3 (Ply 3K 12 12 () y=K12L 12. (4)y-2K+3L. 1, 3, and 4 O 1,2, and 4 2 and 4 2,3, and 4 2 and 3

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A: Given production function q=min(M,L1/2) Price of Labor, W=1 Price of Machine, Pm=2

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Q: 3. Consider the following production function: q = 2L +3/K Assume K = 16, derive the marginal…

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Q: 3. Show that, for the two-input CES production function 1. 1-p

A: The CES Production Function refers to a neoclassical production function that shows constant…

Q: Which of the following production functions exhibit(s) constant returns to scale? I. Q= KL K+L II. Q…

A: Given:  There are three production functions: 1. Q=KLK+L2. Q=2K+L3. Q=K0.8L0.2

Q: 3. Many production functions have a property called constant returns to scale, about constant…

A: In economics, the term "returns to scale" refers to the quantitative change in output that a company…

Q: 4. Characterize the returns to scale of the production function (a) (doing the same for production…

A: Solution for 4b: Production function: y = ln (1 + x1x2 + x1x3 + x2x3 )

Q: 6. Which of the following are true (check all that apply) Note: IRTS=increasing returns to scale,…

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A: Production function exhibit increasing, decreasing and constant returns to scale.

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Q: 1) Draw and label the AFC, AVC, ATC, and MC curves when FC = 0. Assume when the production level i…

A: "Since you have asked multiple questions, we will solve first question for you .. If you want any…

Q: 2. Show that the two-input CES production function used in this lecture has DRS, CRS or IRS…

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Q: 1. For each of the following production functions, determine whether there areincreasing, constant…

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Q: Q7. Provide your own examples for the questions below. a. An example for economies of scale using…

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Q: Question 5 Which of the following production functions exhibit increasing return to scale?…

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A: Average cost= Total cost/ Quantity.

Q: Margeʹs Hair Salon production function is Q = f(K, L) = K0.5L0.5 where K is the number of hair…

A: Here we have:- Margeʹs Hair Salon production function is Q = f(K, L) =K0.5L0.5 where K is the number…

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Q: 1. Show that the two-input Cobb-Douglas production function used in this lecture has DRS, CRS or IRS…

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Q: 12.Consider the production function Y= AKCL1-a, where A is a constant, L is labour, Kis capital and…

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Q: Which of the following production functions exhibit decreasing returns to scale? In each case y is…

A: For option (a) y = 3K12L12 we increase each factor by proportion m Now, we have y' = 3(mK)12(mL)12=…

Q: The following equations represent the long-run production functions for four different technologies,…

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A:

Q: True or false. In general, production can display diminishing returns in all variables but still…

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Q: 12. Which of the following production function shows decreasing returns to scale? (a) f(r) = min{x1,…

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A: Given Production function  FK,L=KaLb         ... (1)

Q: 3.1 Consider the following production function: F(K,L) = K®3L0.7 State if this function exhibits…

A:

Q: The following equations represent the long-run production functions for four different technologies,…

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Q: Using the table below indicate which firm has (i) diseconomies of scale and (ii) constant returns…

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Q: c) Show that the following production function exhibits increasing returns to scale Q = 20K*L² Where…

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Q: ? SAC А. В. SAC С. SAC AC AC АС ? ? ? SAC D. Е. F. SAC АС SAC АС AC ? ? 1. Of the graphs shown…

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Q: Which of the following production function exhibits Diseconomies of Scale? Production function where…

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Q: A firm's production function is given by the following Cobb-Douglas function: q = = Ak0.510.5 vhere…

A: MRTS = MPlMPkwhere MPl=∂q∂land MPk = ∂q∂k

Q: QUESTION 25 Which of the following production functions exhibits constant returns to scale? OA Y=KL…

A:

Q: Question 5 Which of the following production functions exhibit increasing return to scale?…

A: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and…

Q: Returns to scale in production: Do the following production functions exhibitincreasing, constant,…

A: Note: Since you have asked multiple parts, we will solve the first 3 parts for you. If you want any…

Q: 1. Suppose the production function for automobiles is given by q = kl-0.8k² -0.21² where q…

A: “Since you have posted multiple questions with multiple sub-parts, we will solve the first question…

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Q: 1) Suppose a firm uses capital, K, and labor, L, to produce output. Verify whether the following…

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Q: Economic1. For each of the following production functions, determine whether there areincreasing,…

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