The Production Function F(x, Y)= X^2/3+ Y^2/3 Has Increasing Returns

question 47

True/False

The production function f(x, y)= x^2/3+ y^2/3 has increasing returns to scale.

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Definitions:

Property Ownership

The legal right to possess, use, and dispose of real estate or personal property.

Co-ownership Interests

Legal rights and interests held by individuals or entities that own property together, entitling them to use, profit from, or dispose of the property jointly.

Tenancy in Common

A form of co-ownership where each owner possesses a fractional share of the entire property, but there is no right of survivorship.

Joint Tenancy

A form of co-ownership where two or more persons hold an equal share in a property, with the right of survivorship upon the death of one owner.