The Production Function Q = 0.25X^0.5Y Exhibits

question 35

Multiple Choice

The production function Q = 0.25X^0.5Y exhibits:

• A) constant returns to scale.
• B) increasing returns to scale.
• C) increasing and then diminishing returns to scale.
• D) diminishing returns to scale.

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Definitions:

Limiting Resource

A resource in an ecosystem that restricts the growth, abundance, or distribution of organisms or populations due to its scarcity.

Niches

Refers to the specific role or position an organism or species has within its environment, including all biotic and abiotic factors affecting it.

Compete

The act of striving against others for the purpose of achieving dominance, superiority, or an award.

Coevolve

The process by which two or more species reciprocally affect each other's evolution through natural selection.