If the production function exhibits decreasing returns to scale in the steady state, an increase in the rate of population would lead to:. 1. no growth in total output or in output per worker. 2. growth in total output but no growth in output per worker. 3. growth in total output but a decrease in output per worker. 4. growth in total output and growth in output per worker

3. growth in total output but a decrease in output per worker

Explanation:

A production function depicts a functional relationship between production and factors of production such as land, labor, capital and entrepreneur.

In the long run, all factors of production are variable. Herein, an increase in factors of production leads to less than proportionate increase in a firm's output, it is referred to as decreasing returns to scale.

An increase in the population would lead to rise in the availability of a factor of production i.e labor. But such an increase would only increase the total output and output per worker won't increase and would keep falling owing to the operation of decreasing returns to scale.  

lbc corporation makes and sells a product called product wz. each unit of product wz requires 4.1 hours of direct labor at the rate of $20.00 per direct labor-hour. management would like you to prepare a direct labor budget for june. the company plans to sell 28,000 units of product wz in june. the finished goods inventories o

none

explanation:

we're are the selections to pick from?