2) (10 points) For the following functions define if they are increasing, decreasing or constant returns to scale. Are t
Posted: Sun Jun 05, 2022 4:39 pm
2) (10 points) For the following functions define if they are increasing, decreasing or constant returns to scale. Are they homogenous and, if so, to what degree? i)f(x, y, z) = 2√xy (1) ii) f(x, y, z) = x/y-5/y²+2-2 (2) iii) f(x, y, z) = xyz +1 (Assume xyz > 1) (3)