Economics · Production Theory

For a Cobb-Douglas production function Q = AKαLβ, which of the following statements regarding returns to scale is correct?

Verified Solution4 OptionsUpdated: October 2026👁️1 View

1Increasing if α + β > 1
2Constant if α + β = 1
3Decreasing if α + β < 1
4All of the above✓

Correct answer

All of the above

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For a Cobb-Douglas production function Q = AKαLβ, which of the following statements regarding returns to scale is correct?

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For a Cobb-Douglas production function Q = AKαLβ, which of the following statements regarding returns to scale is correct?

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