What is the increase in output if the quantity of capital


Given the production function:

O = AL^60 K^70

A) What is the increase in output if the quantity of capital rises 30% (Assume the quantity of labor and technological change are constant)

B) Is this industry exhibiting increasing, constant, or decreasing returns to scale? How do you know?

Request for Solution File

Ask an Expert for Answer!!
Microeconomics: What is the increase in output if the quantity of capital
Reference No:- TGS0944462

Expected delivery within 24 Hours