What.Is homogeneous and non homogeneous production function?
Answers
Answered by
0
Hey buddy here is ur answer !!!
》 A function which is homogeneous of degree 1 is said to be linearly homogeneous, or to display linear homogeneity.
》 A production function which is homogeneous of degree 1 displays constant returns to scale since a doubling all inputs will lead to a doubling of output.
Hope u like answer !!!
✌✌ BE BRAINLY ✌✌
》 A function which is homogeneous of degree 1 is said to be linearly homogeneous, or to display linear homogeneity.
》 A production function which is homogeneous of degree 1 displays constant returns to scale since a doubling all inputs will lead to a doubling of output.
Hope u like answer !!!
✌✌ BE BRAINLY ✌✌
Similar questions