Homogeneity, Returns to Scale and (Log)Concavity
5 Pages Posted: 30 Jul 2020
Date Written: March 30, 2020
This brief note shows that if a production function, f, is quasiconcave, increasing and homogeneous, then f is concave if it displays nonincreasing returns to scale, and f is logconcave if it displays increasing returns to scale.
Keywords: Homogeneity, Returns to scale, Rho-concavity
JEL Classification: D21
Suggested Citation: Suggested Citation