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sanya

· started a discussion

· 1 Months ago

explain (Question: 332355.0 )

please provide explanation for this

Question:

If we have constant returns to scale and we increase the quantity of labour used per unit of time by 10% but keep the amount of capital constant, output will:

Options:
A)

Increase by 10%

B)

Decrease by 10%

C)

Increase by more than 10%

D)

Increase by less than 10%

Solution:

Ans: (d)

Ravinder Rathee

· commented

· 1 Months ago

cobb Douglus production function is used in case of long run production.
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