Economics · Production Function

If the Cobb-Douglas production function is Q = ALαKβ and α + β < 1, then it represents:

Verified Solution4 OptionsUpdated: October 2026👁️1 View

1Constant returns to scale
2Increasing returns to scale
3Decreasing returns to scale✓
4Decreasing returns to variable input

Correct answer

Decreasing returns to scale

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If the Cobb-Douglas production function is Q = ALαKβ and α + β < 1, then it represents:

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If the Cobb-Douglas production function is Q = ALαKβ and α + β < 1, then it represents:

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