2. A rm has the following production function: :1 = 4L + K (1) a] How would you characterize this production function, i.e., how do the inputs relate to each other? 1)) What are the returns to scale of this production function? h) Use a carefullyr drawn and labeled graph to depict this rms isoquants for m = 4, q; = S and Q3 = 12. c) What will he the optimal input bundles for q = 8 given the following input price corn- binations: w = $1, 1* = $1 (2) w = $5, 3* = $1 (3) w = $8, 3* = $2 (4) d) State the conditions under which labor will he used over capital, and vice versa