Which of the following production function would exhibit increasing returns to scale? f(K, L) = (K + L)1/2 Of(K, L) = K+L f(K, L)=K1/4+1/4 O f(K, L) = KIL O None of the above

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)
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ISBN:9781305506381
Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
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Chapter7: Production Economics
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Which of the following production function would exhibit increasing returns to scale?
f(K, L) = (K+ L)1/2
f(K, L) = K + L
f(K, L) = K1/4+ [1/4
Of(K, L) = KIL
None of the above
Transcribed Image Text:Which of the following production function would exhibit increasing returns to scale? f(K, L) = (K+ L)1/2 f(K, L) = K + L f(K, L) = K1/4+ [1/4 Of(K, L) = KIL None of the above
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