Q.Cobb-Douglas production function assumes

The Cobb-Douglas production function in its standard form assumes constant returns to scale — option (c).

The Cobb-Douglas production function is written as Q = A x (L raised to a) x (K raised to b), where L is labour, K is capital, and a and b are the output elasticities. In its classic form the exponents add up to one (a + b = 1), making the function linearly homogeneous (homogeneous of degree one).

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The Cobb-Douglas production function is based on constant returns to scale.

The Cobb-Douglas production function expresses output as a function of labour and capital. In its standard form the exponents of the inputs add up to one, making the function linearly homogeneous (homogeneous of degree one). This means that if all inputs are increased in a given proportion, output increases in exactly the same proportion — the definiti …