A Cobb-Douglas Production Function

question 147

Multiple Choice

A Cobb-Douglas production function:

• A) exhibits constant returns to scale.
• B) exhibits increasing returns to scale.
• C) exhibits decreasing returns to scale.
• D) can exhibit constant, increasing, or decreasing returns to scale.

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Definitions:

Conceptual Model

A theoretical framework that represents how ideas or concepts are related within a study or research topic.

Paradigm

A distinct set of concepts, thought patterns, or an accepted way of thinking within a particular field or discipline.

Conceptual Framework

An analytical tool comprised of various concepts that are systematically used to identify, frame, and solve research problems.

Deductive Reasoning

A logical process in which a conclusion is based on the concordance of multiple premises that are generally assumed to be true.