Assignment Help - homework help

Does the production function exhibit increasing decreasing


A firm produces a quantity Q of breakfast cereal using labour L and capital K with the following production function:

Q= 50*(√KL) + K + L

Does the production function exhibit increasing, decreasing or constant returns to scale? Explain. Calculate the MPL as well.

Solution Preview :

Prepared by a verified Expert
Business Management: Does the production function exhibit increasing decreasing
Reference No:- TGS02510597

Now Priced at $10 (50% Discount)

Recommended (95%)

Rated (4.7/5)