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:

Memory

The faculty by which the mind stores and remembers information, allowing for the retention and recall of past experiences.

Prolonged Stress

A condition of experiencing continuous stress over an extended period, which can lead to various physical and mental health issues.

Adrenal Glands

Small glands located on top of each kidney; they produce hormones that help the body control blood sugar, burn protein and fat, react to stressors like a major illness or injury, and regulate blood pressure.

Cortisol

A steroid hormone produced by the adrenal glands, often released in response to stress and low blood-glucose concentration.