Let the Production Function Be Q = ALᵃKᵇ

question 16

Multiple Choice

Let the production function be q = ALᵃKᵇ.Returns to scale are equal to

• A) a ∗ b.
• B) a + b.
• C) Lᵃ + Kᵇ.
• D) A ∗ L.

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Definitions:

Genome

The complete set of genetic material present in a cell or organism, encompassing all of its genes.

Chemical Bases

Substances that accept protons from acids or donate a pair of valence electrons to form a bond, typically having a high pH when dissolved in water.

Genes

Basic units of heredity in living organisms, made up of DNA, that influence specific characteristics or traits.

Phylum

A phylum is a major taxonomic category in the classification of living organisms, ranking above class and below kingdom, grouping together organisms with a shared body plan or significant similarities in structure or ancestry.