question archive Suppose a firm's production function can be specified as Q = 10KL
Suppose a firm's production function can be specified as Q = 10KL
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Suppose a firm's production function can be specified as Q = 10KL.This firm's cost function exhibits
a. economies of scale
b. diseconomies of scale
c. neither diseconomies nor economies of scale.
d. economies of scale for output levels less than some level, Q1= 1/4, and diseconomies of scale thereafter.
e. we cannot determine based on the given information
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