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Consider the Production Function Q = F(L,K)= 5L2K2

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Essay

Consider the production function Q = F(L,K)= 5L2K2.Does this technology have increasing,decreasing or constant returns to scale? Explain your answer in two different ways.


Definitions:

Free Imagination

The unbound capacity to create, envision, or think about scenarios, objects, or ideas that are not present or have not been directly experienced.

Eyewitnesses

Individuals who have directly observed an event and can provide a first-hand account or testimony of what they saw.

Collision Speed

The speed at which two or more bodies come together or collide.

"Hit"

In the context of memory and cognition, a correct recognition or recall of a previously encountered item.

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