Economics · Theory of Production
In the Cobb-Douglas production function, Q = AKaLb, where 'a' and 'b' are output elasticities of capital and labour respectively. If a + b > 1, the underlying return to scale will be:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Increasing✓
- 2Decreasing
- 3Constant
- 4Linear
Correct answer
Increasing
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