[Solution] For each of the following production functions use the degree of homogeneity (IF ANY) to determine whether the function displays increasing, decreasing,


Question: For each of the following production functions use the degree of homogeneity (IF ANY) to determine whether the function displays increasing, decreasing, constant returns to scale, or ne degree of homogeneity, and thus no returns to scale.

  1. \(Q=2.437~{{\text{K}}^{.25}}~{{\text{L}}^{.35}}{{\text{R}}^{.49}}\)
  2. \(Q=1.2\left[.4 \mathrm{~K}^{-.4}+.6 \mathrm{~L}^{-.4}\right]^{-1 / .4}\)
  3. \[Q=2.34\left[ ~{{\text{K}}^{.3}}~{{\text{L}}^{.4}}+{{\text{L}}^{.5}}{{\text{R}}^{.2}}+{{\text{K}}^{.2}}{{\text{R}}^{.5}} \right]\quad \]

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