Consider the following production functions: 1. Q = 9L + 3K 2. Q = 10 K0.6L0.4 3. Q = 10 min (K, 2L) Which of these production functions exhibits
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Question

Consider the following production functions:

1. Q = 9L + 3K

2. Q = 10 K0.6L0.4

3. Q = 10 min (K,

2L)

Which of these production functions exhibits constant returns to scale?

Top Answer

We take random numbers as values for L and K, we then calculate the value of Q to establish which among the three functions... View the full answer

Q = 10 K0.6L0.4.png

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