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difference between homogeneous and non homogeneous production function

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10y ago
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5mo ago

A homogeneous production function exhibits constant returns to scale, meaning that doubling all inputs leads to an exactly doubled output. A non-homogeneous production function does not exhibit constant returns to scale and shows varying output levels when inputs are changed.

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Q: What is homogeneous and non homogeneous production function?
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Related questions

What is homogenous production function?

A homogeneous production function exhibits constant returns to scale, meaning that if all inputs are increased by a certain factor, output increases by that same factor. Mathematically, a production function is considered homogeneous if it satisfies the property F(zK, zL) = zF(K, L) for all z > 0, where K and L represent inputs of capital and labor, respectively, and F denotes the production function.


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What is the production function and types of production function?

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