Economics · Production Theory
Which one of the following production functions exhibits decreasing returns to scale?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Q = A K1/4 L1/2✓
- 2Q = A Kα L1-α
- 3Q = A(3K + 5L)
- 4Q = A K1/2 L3/2
Correct answer
Q = A K1/4 L1/2
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