Consider the following production function: Y=K41L21 Show that it represents constant retams to scale. Derive the demand for inputs, K, L given theax poices r and w, rropectively. Calculate the long run cost functions for the firm for pre 40 and r=10. What would be muinizum cost los producing 200 units. What aboet 600 ? Is this firm experience ecconomuin of fcale? Suppose that firm experiepced tinascial constraint apd nenl be allowed to use: only 200 unity ot capital Calculate the short mus coit functisas for the turm What would be the coit of producias 200 and 6002 Are the costs of producing 300 and 400 amg in the shost rma and longinum