If There Are Constant Returns to Scale,the Production Function Can

question 152

Multiple Choice

If there are constant returns to scale,the production function can be written as

• A)xY = 2xAF(L,K,H,N).
• B)Y/L = A F(xL,xK,xH,xN).
• C)Y/L = A F( 1,K/L,H/L,N/L).
• D)L = AF(Y,K,H,N).

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Definitions:

Scheffé Test

A statistical test used for making comparisons between group means after an ANOVA, allowing for all possible pairwise comparisons.

Simple And Complex Comparisons

Comparisons that involve directly comparing two samples (simple) or analyzing multiple samples or variables simultaneously (complex).

One-Way ANOVA

Statistical procedure used to test differences between the means of three or more groups comprising a single independent variable.

F-Ratio

The ratio of two variances that is used in analysis of variance (ANOVA) to test the equality of means among several groups.