If the Exponents in the Production Function Were 0

question 7

Multiple Choice

if the exponents in the production function were 0.30 for x₁ and 0.30 for x₂, this production function would exhibit (constant, increasing, decreasing) returns to scale and (would, would not) have diminishing technical rate of substitution.

• A)constant, would
• B)constant, would not
• C)decreasing, would not
• D)increasing, would
• E)decreasing, would

---

Definitions:

Marketing Mix

A foundational model in marketing consisting of four key components: product, price, place, and promotion, used to pursue marketing objectives.

Power Tools

Tools that require an external power source to operate, often used for construction, repair, and DIY projects.

Advertising Plan

A strategic document outlining the objectives, tactics, target audience, and budget for promoting products, services, or brands through various advertising channels.

Promotional Strategy

A plan of action designed to effectively communicate the benefits of a product or service to the target audience to stimulate demand.