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:

Bins

Categories or intervals used in data analysis to group data points for easier analysis, especially in histograms.

Acres

A unit of area, primarily used in the United States, equal to 43,560 square feet or approximately 4,047 square meters.

Stem-and-Leaf Display

A graphical method of displaying numerical data, where each number is divided into a stem (the leading digit(s)) and a leaf (the last digit).

Kilograms

A unit of mass in the International System of Units (SI), equal to one thousand grams or approximately 2.20462 pounds.