Scenario 7.3: Use the Production Function: Q = 4L^1/2K^1/2

question 101

Multiple Choice

Scenario 7.3:
Use the production function: Q = 4L^1/2K^1/2.
-The production function in Scenario 7.3 exhibits:

• A) diminishing returns to labor.
• B) diminishing returns to capital.
• C) decreasing returns to scale.
• D) all of the above
• E) A and B, but not C.

---

Definitions:

Modified Routines

Adjustments or changes made to standard practices or procedures to improve efficiency, accommodate new conditions, or address emerging problems.

Hyper-Turbulent

Hyper-Turbulent describes situations or environments characterized by extremely high levels of change, unpredictability, and complexity.

Seamless Change

A method of implementing change in an organization in a way that minimizes disruptions and appears smooth and effortless to those involved.

Unfreezing

The recognition that some current state of affairs is unsatisfactory.