For What Values of a and B Will the Following

question 100

Essay

For what values of a and b will the following production function exhibit increasing,decreasing or constant returns to scale?
q = (Lᵃ + Kᵃ)¹/ᵇ

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Definitions:

Delusions

False beliefs held with strong conviction despite superior evidence to the contrary, often observed in psychiatric conditions like schizophrenia.

Hallucinations

Perceptions in a conscious and awake state in the absence of external stimuli which have qualities of real perception, often occurring in psychiatric conditions.

Compulsions

Repetitive behaviors or mental acts that an individual feels driven to perform in response to an obsession, or according to rules that must be applied rigidly.

Catatonia

A state of psycho-motor immobility and behavioral abnormality, often seen in schizophrenia and certain mood disorders.