Afarmer uses t units of landand l hours of labor to produce c tons of corn, with the following production function c = l3/4t. suppose the amount of land, t, is fixed, that is the farmer cannot use more land. this production function exhibits
a. increasing returns to labor.
b. constant returns to labor.
c. diminishing returns to labor.
d. no clear pattern of returns to labor.
Answers: 2
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Afarmer uses t units of landand l hours of labor to produce c tons of corn, with the following produ...
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