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Production function for good

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Reference no: EM131257146

Suppose the production function for good q is given by q=3 K + 2L where K and L are capital and labor inputs. Consider three statements about this function:

I. The function exhibits constant returns to scale

II. The function exhibits diminishing marginal productivities to all inputs

III. The function has a constant marginal rate of technical substitution

Which of these statements are true?

A) All of them

B) None of them

C) I and II but not III

D) I and III but not II

E) Only I

9) For any given output

Reference no: EM131257146

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