Assume a Cobb-Douglas production function of the form: q=10L0.66 K0.88 What type of returns to scale does this production function exhibit? In this instance, returns to scale equal. (Enter a numeric response using a real number rounded to two decimal places.)
Assume a Cobb-Douglas production function of the form: q=10L0.66 K0.88 What type of returns to scale does this production function exhibit? In this instance, returns to scale equal. (Enter a numeric response using a real number rounded to two decimal places.)
Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)
14th Edition
ISBN:9781305506381
Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Chapter7: Production Economics
Section: Chapter Questions
Problem 1.5CE
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