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With capital K and labor L input, there are five production functions in the following:

I.              Q = L+K

 

II.            Q = √L*K

 

III.          Q = L*K

 

IV.         Q = ∛L*K

 

V.           Q = L²+K²

 

a. Which function(s) exhibit the constant returns to scale?  

b. Which function(s) exhibit the increasing returns to scale?  

c. Which function(s) exhibit the decreasing returns to scale?

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