Suppose a Firm's Production Function Can Be Specified as Q

question 20

Multiple Choice

Suppose a firm's production function can be specified as Q = 10KL. This firm's cost function exhibits

• A) economies of scale
• B) diseconomies of scale
• C) neither diseconomies nor economies of scale.
• D) economies of scale for output levels less than some level, Q₁= 1/4, and diseconomies of scale thereafter.

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