Suppose a Firm's Technology Is Represented by the Function Q

question 10

Essay

Suppose a firm's technology is represented by the function Q = F(L,K)= 5L^0.25K^0.75.Does this firm experience economies of scale,diseconomies of scale or neither?

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Definitions:

Produce Seeds

The biological process in which plants and some other organisms generate seeds to reproduce and pass genetic information to the next generation.

Moderate Climate

A climate characterized by mild temperatures, neither too hot nor too cold, often found in areas with seasonal changes.

Epipelagic Region

The uppermost layer of the ocean, where there is enough sunlight for photosynthesis to occur, typically down to about 200 meters.

Biome

a large naturally occurring community of flora and fauna occupying a major habitat, e.g., forest or tundra.