Economics · Production Theory
If the Cobb-Douglas production function is given by Q = ALαKβ, where α + β < 1, then it exhibits:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Decreasing returns to a variable input
- 2Decreasing returns to scale✓
- 3Increasing returns to scale
- 4Constant returns to scale
Correct answer
Decreasing returns to scale
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