Suppose the Production Function for Good Q Is Given By q

question 4

Multiple Choice

Suppose the production function for good q is given by $q = 3 k + 2 l$ where k and l are capital and labor inputs.Consider three statements about this function:
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.
Which of these statements is true?

• 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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