Assume the Generic Production Function Q = F (K,L)displays Both

question 24

Multiple Choice

Assume the generic production function Q = f (K,L) displays both decreasing returns to capital (K) and decreasing returns to labor (L) .Then

• A)this production function will certainly display decreasing returns to scale.
• B)this production function will certainly display constant returns to scale.
• C)this production function will certainly display increasing returns to scale.
• D)this production function may display increasing returns to scale.

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Definitions:

Advertising

A means of communication with the users of a product or service through various mediums to promote or sell something.

Indirectly Paid Presentation

A promotional activity where the audience is not explicitly aware that the presentation is being sponsored or paid for, often seen in product placements.

Nonpersonal Communication

Promotion or advertising activities where there is no direct face-to-face interaction between the sender and receiver.

Customized Interaction

A personalized approach to customer service and engagement that tailors the experience to meet the individual needs and preferences of each customer.