Given That L = Labor and K = Capital,which of the Following

question 49

Multiple Choice

Given that L = labor and K = capital,which of the following production functions displays decreasing returns to scale?

• A)Q = aL + bK²
• B)Q = aL + bK + c
• C)Q = bLK
• D)Q = cL^0.2K^0.5
• E)Q = cL²K⁵

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Definitions:

Social Scientific Investigation

An approach to research that involves the systematic study of societal patterns, behaviors, and cultural phenomena using empirical and theoretical methods.

Anthony Giddens

An eminent sociologist hailing from the UK, famous for his structuration concept and all-encompassing outlook on modern societies.

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The concept or instance of two parts, aspects, or points of view coexisting simultaneously.

Structure and Agency

The ongoing debate in sociology about the extent of individual's free will versus the limitations imposed by social structure.