Question: 5. Consider long-run production using the following production function: 2 U = LK a. Derive the isoquant. Show your work. b. Derive the expression for

5. Consider long-run production using the following production function: 2 U = LK a. Derive the isoquant. Show your work. b. Derive the expression for the marginal rate of technical substitution. Your expression should only have U and L in your answer. Show your work. c. Is there diminishing MRTS? Show your work. d. Does production exhibit constant, increasing, or decreasing returns to scale? Justify your

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