February 26, 2017

Homework Help: economics

Posted by latecia on Thursday, November 26, 2009 at 7:13pm.

if production is Q=(a^c) min(K,L) where a>0, c>1, price of capital(r)=£10 and price of labour (w)= £10
what is the optimal combination of capital and labour?
does the production have increasing/constant/decreasing returns to scale?

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