Answers
ECON 1012 Tien: Macroeconomics Homework 4 Answer Key
- Course
- ECON 1012 (ECON1012)
- Institution
- George Washington University
Constant (increasing, decreasing) returns to scale imply that proportionate increases in inputs lead to the same (more than, less than) proportionate increases in output. If we were to increase labor and capital by the same proportionate amount (l) in this production function, output would change b...
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