Under what conditions do the following production functions exhibit decreasing, constant, or increasing returns to scale? The production function q = L+K
A. exhibits increasing returns to scale if L and K are greater than one.
B. exhibits decreasing returns to scale if L and K are less than one.
C. always exhibits constant returns to scale.
D. always exhibits increasing returns to scale.
E. always exhibits decreasing returns to scale.

Question

11-06-2024
Business

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Under what conditions do the following production functions exhibit decreasing, constant, or increasing returns to scale? The production function q = L+K
A. exhibits increasing returns to scale if L and K are greater than one.
B. exhibits decreasing returns to scale if L and K are less than one.
C. always exhibits constant returns to scale.
D. always exhibits increasing returns to scale.
E. always exhibits decreasing returns to scale.

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