Question: 3.3 In the short run. a rm cannot vary its capital, K = 2, but it can vary its lather,r L. It produces output q.

3.3 In the short run. a rm cannot vary its capital, K = 2, but it can vary its lather,r L. It produces output q. Explain why the rm will or will not experience diminishing marginal returns to labor in the short run ifits production function is i] = 10L + K. {See Solved Problem 0.19.} M 3.6 In the short run, a rm cannot vary its capital, K : 2, but can vary its labor, L. It produces output :3. Explain why the rm will or will not experience diminishing marginal returns to labor in the short run if its production function is a. q = 10L + K, I). q = LUKIIj' M 4.6 The production function at Ginko's Copy Shop is 4;! = 1,000 x min[L, 3K}, where Q is the number of copies per hour, L is the number of workers, and K is the number of copy machines. As an example, if L = 4 and K = 1, then min[L, 3K} = 3, andq = 3,000. a. Draw the isoquants for this production function. h. Draw the total product of labor, average product of labor, and marginal product of labor curves for this production function for some xed level of capital
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