Consider the Production Function
Y = $\sqrt{\mathrm{K}}$ $\sqrt{N}$

question 31

Essay

Consider the production function
Y = $\sqrt{\mathrm{K}}$ $\sqrt{N}$
a.Compute output when K = 81 and N = 100.
b.Is this production function characterized by constant returns to scale? Explain.

---

Definitions:

Wastage

The act or process of losing resources or materials inefficiently or unproductively.

Revenue Management

The use of analytics and data to predict consumer behavior, optimize product availability and pricing, and maximize revenue growth.

Differential Pricing

Differential pricing is a strategy where a company charges different prices for the same product or service in different markets or segments, based on factors like customer willingness to pay, market demand, or competition.

Supply Chain Surplus

The difference between the value generated by the final product to the end consumer and the costs involved in the supply chain.