If There Are Constant Returns to Scale, How Is the Production

question 66

Multiple Choice

If there are constant returns to scale, how is the production function written?

• 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:

Need for Achievement

The drive to excel, to achieve in relation to a set of standards, and to strive to succeed.

Affiliation

The connection or association between individuals or organizations based on shared interests or goals.

Socialized Power

A form of power that is utilized for the benefit of a group or society as a whole, rather than for individual gain.

Personalized Power

Power wielded for personal gain or satisfaction rather than for the benefit of others or the organization, characterized by self-centered behavior and manipulation.