. Under what conditions on a and b do the following production functions exhibit decreasing, increasing...

. Under what conditions on a and b do the following production functions exhibit decreasing, increasing or constant returns to scale? Mathematically justify and show your work.

a. Q(L,K) = aL + bK

b. Q(L,K) = (La + Ka ) 1/b

Expert Solution

Rahul Sunny answered 2 years ago

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