Consider the CES Production Function $Q = \left[ a L ^ { \frac { \sigma - 1 } { \sigma } } + b K ^ { \frac { \sigma - 1 } { \sigma } } \right] ^ { \frac { \sigma} { \sigma - 1 } }$

question 50

Multiple Choice

Consider the CES production function $Q = \left[ a L ^ { \frac { \sigma - 1 } { \sigma } } + b K ^ { \frac { \sigma - 1 } { \sigma } } \right] ^ { \frac { \sigma} { \sigma - 1 } }$

. This production function exhibits

• A) decreasing returns to scale.
• B) constant returns to scale.
• C) increasing returns to scale.
• D) either decreasing or constant returns to scale, but more information is needed to determine which one.

Explain the role of hormones such as antidiuretic hormone (ADH) and aldosterone in renal function.

Describe the pathways for urine movement from production to excretion.

Understand the function of aquaporins in water transport across renal tubule cells.

Explain the role of the kidneys in acid-base balance.

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