Question

Which of the following production functions is NOT homogeneous of degree one?

• A. Q=aL+bK
• B. \(Q=aL^\frac{3}{4}K\frac{1}{2}\)
• C. \(Q=23\sqrt{KL}\)
• D. \(Q=A\left[αL^{-β}+(1-α)K^{-β}\right]^\frac{-1}{β}\)where 0<α<1

Answer 1

The Correct Option is B

The correct option is(B): \(Q=aL^\frac{3}{4}K\frac{1}{2}\)