Multiple Choice
Suppose the production function for good q is given by 
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 rate of technical substitution.
Which of these statements is true?
A) All of them
B) None of them
C) I and II but not III
D) I and III but not II
Correct Answer:
Verified
Correct Answer:
Verified
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