The Following Is a Cobb-Douglas Production Function: Q = 1

question 26

Multiple Choice

The following is a Cobb-Douglas production function: Q = 1.75K^0.5·L^0.5.What is correct here?

• A) A one-percent change in L will cause Q to change by one percent
• B) A one-percent change in K will cause Q to change by two percent
• C) This production function displays increasing returns to scale
• D) This production function displays constant returns to scale
• E) This production function displays decreasing returns to scale

Understand the mechanisms and impacts of different environmental policy instruments such as cap and trade systems and carbon tax systems.

Identify which practices align with the "polluter pays" principle.

Learn how sustainability can be measured within a supply chain.

Comprehend the drivers behind the increasing focus on sustainability in business practices.

---

Definitions:

Employment

A situation in which an individual works for a company or another person and receives compensation in the form of wages, salary, or other benefits.

Fewer

A comparative term indicating a smaller number of items or entities.

Consumer Marketers

Professionals who specialize in creating and implementing marketing strategies targeted at individual consumers rather than businesses.

Sustainability

The practice of meeting current needs without compromising the ability of future generations to meet theirs, often with a focus on environmental protection, social equity, and economic viability.