For each production function determine whether the

Question

Consider the following production functions.

(a) F (K, L) = √ KL

(b) F (K, L) = K2 + L 2

(c) F (K, L) = K^αL ^1−α where 0 < α < 1

For each production function, determine whether the production function demonstrates constant returns to scale, increasing returns to scale, or decreasing returns to scale for some factor z > 1.