Calculate Returns to Scale - Nine Different Prod. Func. Examples - Intermediate Macro economics

Описание: Given a number of production functions (including Cobb-Douglas production function, partially parameterized Cobb-Douglas and others) we calculate the return to scale -- whether or not these functions are increasing returns to scale (IRS), decreasing returns to scale (DRS) or constant returns to scale (CRS).

This is designed for an Intermediate Macro Economics level.

--------------------------------------------------------------------
More Returns to Scale Videos:
   • Returns to Scale Overview - Definition & D...   - Overview of Returns to Scale
   • What is Constant Returns to Scale (CRS)?  ...   - Constant Returns to Scale (CRS)
   • What is Increasing Returns to Scale (IRS)?...   - Increasing Returns to Scale (IRS)
   • What is Decreasing Returns to Scale (DRS)?...   - Decreasing Returns to Scale (DRS)
   • Calculate Returns to Scale - Nine Differen...   - Examples of determining returns to scale.

--------------------------------------------------------------------
Skip Ahead
1:31 - Y=F(K,L)=AK^0.5 L^0.5⇒CRS,
4:30 - Y=F(K,L)=AK^α L^((1-α) )⇒CRS
8:15 - Y=F(K,L)=AK^0.4 L^0.7⇒IRS,
11:00 - Y=F(K,L)=AK^0.2 L^0.3⇒
13:35 - Y=F(K,L)=2K+L⇒CRS ,
15:50 - Y=F(K,L)=3KL⇒IRS,
19:28 - Y=F(K,L)=K^0.5 L^0.5+A⇒DRS,
23:05 - Y=F(K,L)=K^0.5 L^0.5-A⇒IRS
27:25 - Y=F(K,L)=K+K^0.2 L^0.2⇒DRS