The Production Function $f ( k , \ell ) = A \left( \alpha \ell ^ { - \rho } + ( 1 - \alpha ) k ^ { - \rho } \right) ^ { - \beta / \rho }$

question 10

True/False

The production function $f ( k , \ell ) = A \left( \alpha \ell ^ { - \rho } + ( 1 - \alpha ) k ^ { - \rho } \right) ^ { - \beta / \rho }$ can have increasing returns to scale or decreasing returns to scale -- but it cannot have initially increasing and eventually decreasing returns to scale.

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Definitions:

Phallic Stage

A phase in Freudian psychosexual development where a child’s focus of libido is on the genital area, marking it as a critical stage in the formation of sexual identity.

Marked Attachment

Marked attachment refers to a strong emotional bond, typically between a child and a caregiver, characterized by the child's tendency to seek proximity to the caregiver for security and comfort.

Same-Sex Parent

A parent who is of the same gender as their child or who identifies as homosexual.

Psychologists

Professionals who study mental processes, behavior, and the mind, often working in academic, research, or clinical settings.