Question

Returns to scale is the main law studied in which production function?

Options

• Short‑run, Q = f(L)

• Long‑run, Q = f(K, L)

• Q = f(P)

• Q = f(M)

Answer 1

Long‑run, Q = f(K, L)

Explanation:

Returns to scale is studied in the long-run production function with all variable factors.