Suppose a production function is given as Q = f (K, L). When inputs K and L are doubled and…
Suppose a formation office is dedicated as Q = f (K, L). When inputs K and L are doubled and formation office reads as follows. hQ = f (2K,2L)
What qualification must be fulfilled for the formation office to pomp invariable receipts to layer?
Using Cobb–Douglas formation office, pomp the qualifications for:
(a) increasing receipts to layer,
(b) invariable receipts to layer, and
(c) powerless receipts to layer.