Suppose that output q is a function of a single input, labour (L). Describe the returns to scale associated with the following production functions: q =L/2 A Decreasing. Increasing. C Unknown. Constant.

Economics (MindTap Course List)
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ISBN:9781337617383
Author:Roger A. Arnold
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Chapter17: Economic Growth: Resources, Technology, Ideas And Institutions
Section17.2: A Production Function And Economic Growth
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Suppose that output q is a function of a single input, labour (L). Describe
the returns to scale associated with the following production functions: q
=L/2
A
Decreasing.
Increasing.
C
Unknown.
D
Constant.
Transcribed Image Text:Suppose that output q is a function of a single input, labour (L). Describe the returns to scale associated with the following production functions: q =L/2 A Decreasing. Increasing. C Unknown. D Constant.
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