For each of the following production functions determine, Business Economics

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For each of the following production functions determine

For each of the following production functions, determine the returns to scale. Check to see whether diminishing returns for labor and capital exist for each function (Q = quantity, L = labor, K = capital) a. Q = 3L + 2K b. Q = (2L + 2K)1/2 c. Q = 3LK2 d. Q = L1/2K1/2 = (LK)1/2 e. Q = 4L1/2 + 4K

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Business Economics: For each of the following production functions determine

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