Consider the following figure:The shape of this production function suggests:a) a constant marginal product of capital.b) a diminishing marginal product of capital.c) a diminishing marginal product of labour.d) an increasing marginal product of capital.e) Not enough information is given

In the long run the Cobb-Douglas production function;Select one:a.becomes steeper due to diminishing marginal returns to capitalb.becomes flatter due to diminishing marginal returns to capitalc.becomes steeper due to diminishing marginal returns to labourd.becomes flatter due to diminishing marginal returns to labour

The Cobb-Douglas production function has:Select one:a.has constant returns to scale but diminishing marginal returns to capitalb.has constant returns to scale and increasing marginal returns to capitalc.has increasing returns to scale but diminishing marginal returns to capitald.has decreasing returns to scale and diminishing marginal returns to capital

Consider the “Cobb-Douglas” production function given by 𝑌=𝐴𝐾𝛼𝐿1−𝛼 where 𝐴>0 and 0<𝛼<1. Which of the following is FALSE?Group of answer choicesThe marginal product of capital is positiveThe marginal product of labour is positiveThere is diminishing returns to capitalThere is decreasing returns to scale

Question 1 Consider the production function:F (L, K) = L13 K 23 .Suppose the wage rate (price per unit of labour), w, is 1 and, the capital rental rate (priceper unit of capital), r, is 2.(a) Does this production function exhibit increasing, decreasing or constant returns toscale? Justify your answer.

The second of the three ranges of production is characterized by _______ marginal returns.Question 23Select one:a.increasingb.constantc.diminishingd.negative