Suppose the Production Function for Good Q Is Given by

question 10

Multiple Choice

Suppose the production function for good q is given by
Where k and l are capital and labor inputs.Consider three statements about this function:
I.the function exhibits constant returns to scale.
II.the function exhibits diminishing marginal productivities to all inputs.
III.the function has a constant rate of technical substitution.
Which of these statements is true?

• A)All of them
• B)None of them
• C)I and II but not III
• D)I and III but not II

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