Assume a Cobb-Douglas production function of the form:
q equals 10 Upper L Superscript 0.18 Baseline Upper K Superscript 0.86q=10L0.18K0.86.
Part 2
What type of
returns to scale
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does this production function exhibit?
Part 3
In this instance, returns to scale equal
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(Enter
a numeric response using a real number rounded to two decimal places.)