For each item below, choose whether the listed production function exhibits constant returns to scale (CRS), increasing returns to scale (IRS) or decreasing returns to scale (DRS): A) q = min {3L, 20K}: CRS B) q = = 140L + 2K: [Select] C) q= L0.2 K: [Select] D) q = L0.2 K0.5 [Select] E) q=L0.2 K0.8 [Select] F) q= L² + K²: [Select] G) q= LK + 10: [Select] H) q = L0.4 K0.4 ✓ [Select] Depends on region of function DRS IRS CRS 10 when q returns positive values, zero otherwise:
For each item below, choose whether the listed production function exhibits constant returns to scale (CRS), increasing returns to scale (IRS) or decreasing returns to scale (DRS): A) q = min {3L, 20K}: CRS B) q = = 140L + 2K: [Select] C) q= L0.2 K: [Select] D) q = L0.2 K0.5 [Select] E) q=L0.2 K0.8 [Select] F) q= L² + K²: [Select] G) q= LK + 10: [Select] H) q = L0.4 K0.4 ✓ [Select] Depends on region of function DRS IRS CRS 10 when q returns positive values, zero otherwise:
Chapter9: Production Functions
Section: Chapter Questions
Problem 9.7P
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13
![For each item below, choose whether the listed production function exhibits constant returns to
scale (CRS), increasing returns to scale (IRS) or decreasing returns to scale (DRS):
A) q = min {3L, 20K}: CRS
B) q= 140L + 2K: [Select]
C) q= L0.2 K: [Select]
D) q=L0.2 K0.5. [Select]
E) q= L0.2 K0.8. [Select]
F) q = L² + K²: [Select]
G) q= LK + 10: [Select]
H) q
✓ [Select]
Depends on region of function
L04 K70.4 10 when q returns positive values, zero otherwise:
DRS
IRS
CRS](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F8cc0a07f-82db-4596-8f80-65030a6292ec%2Ff3926173-adba-4f4f-ab75-2b91ac5040e6%2Fbwnwh0i_processed.png&w=3840&q=75)
Transcribed Image Text:For each item below, choose whether the listed production function exhibits constant returns to
scale (CRS), increasing returns to scale (IRS) or decreasing returns to scale (DRS):
A) q = min {3L, 20K}: CRS
B) q= 140L + 2K: [Select]
C) q= L0.2 K: [Select]
D) q=L0.2 K0.5. [Select]
E) q= L0.2 K0.8. [Select]
F) q = L² + K²: [Select]
G) q= LK + 10: [Select]
H) q
✓ [Select]
Depends on region of function
L04 K70.4 10 when q returns positive values, zero otherwise:
DRS
IRS
CRS
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