1. Consider the Cobb-Douglas Production Function:
$Q_i = AL_i^\alpha K_i^\beta$,
where Q denotes production, L denotes labor, K denotes capital, and i denotes firms.
(a) Do firms exhibit constant returns to scale in their production process, as represented by the production function? Specifically, is the sum of the output elasticities of labor ($\alpha$) and capital ($\beta$) equal to 1? How would you test this hypothesis? Show your work.