Suppose the Production Function for Good Q Is Given by Q

question 28

Multiple Choice

Suppose the production function for good q is given by q = 3K + 2 L where K and L are capital and labor inputs.Consider three statements about this function: Which of these statements is true?
I.The function exhibits constant returns to scale.
II.The function exhibits diminishing marginal productivities to all inputs.
III.The function has a constant rate of technical substitution.

• A)All of them.
• B)None of them.
• C)I and II but not III.
• D)I and III but not II.
• E)only I.

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Definitions:

Weathering Type

Classification of the processes by which rocks and minerals are broken down into smaller pieces and changed chemically under Earth's surface conditions, including physical, chemical, and biological weathering.

Shape

The external form or appearance of an object or figure, defined by its outline or surface configuration.

Clasts

Fragments of geological detritus, rocks, or minerals broken off from a larger solid formation, typically found in sedimentary rocks.

Wind

Movement of air relative to Earth’s surface.