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1. Consider the production function given by 9= (1+L-K-1)-1. (a) Determine the marginal products of labour and capital. (b) Determine the marginal rate of technical substitution. (c) Show that the given production function exhibits diminishing marginal products. (d) Taking an appropriate limit, find the upper bound on q for the given production function. (e) A local measure of the returns to scale incorporated in a production function is given by the scale elasticity defined as Cq(L, K) = Of(L. TK) z where .|,, means evaluate the preceding expression at r = 1 after working it out. Determine this elasticity for the given production function and use it to show that e, (L, K) 1 for q . (f) Determine the average product of labour and show that it is a decreasing function of labour employed