Suppose the Production Function for T-Shirts Can Be Represented as Q

question 114

Essay

Suppose the production function for T-shirts can be represented as q = L^0.25K^0.75.Show that the production function has constant returns to scale.

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Definitions:

Cultural Pluralism

A condition or system in which various cultural groups coexist within a society, retaining their individual cultural identities.

Industrial Revolution

A period of major industrialization from the late 18th to early 19th century that marked a profound change in society with the introduction of machinery.

Steam Engine

A heat engine that performs mechanical work using steam as its working fluid.

Multiculturalism

A policy or ideology that promotes the inclusion and celebration of diverse cultural backgrounds, traditions, and beliefs within a society, recognizing and respecting cultural differences.