Note: In order to obtain the marks for (1(a)), 1(b), 1(c), 1(a) and l(f) you will need to provide your workings for all the relevant points that you have shown in your diagram; and the diagram can be stylised (it does not need to be plotted to scale). Question 2 (12 marks): 2(a) Consider the following multiple-choice question: The concept of diminishing marginal remrns refers to the situation where: a. Additions of one variable input increase output at an increasing rate. 13. Additions of all inputs to production by some proportion increase output by a smaller proportion. c. It is a long-run concept when all inputs can change. (1. Additions of one variable input increase output at a decreasing rate. e. Marginal Product curve will decrease but it may be positive. f. Marginal Cost curve will be decreasing. Only two of the answer choices above (a-t) are correct! What are the two correct answers? (2 marks) 2(b) Explain briey referring to each of the answer options (a)-(f) of this question. Explain in one or two sentences for each option (a)-(f), noting why each one is either correct, or false. (6 marks) 2(c) Draw a stylised Total Product (output) curve and a Marginal Product curve that show the output levels for a farm with fertiliser as its only variable input. Show the typical shape of the Total Product curve in relation to fertiliser, if diminishing marginal product exists. Mark on the diagram for both Marginal Product and Total Product curves, and explain, in one or two sentences, the values of fertiliser input which correspond with 'dimmishmmaxginalmm Remember to label your axes! (4 marks) Question 1 (19 marks): Sarah has a monthly income of $1,800 to spend on goods X and Y, where good Y is the composite good (therefore priced at $1 per \"unit\"). Good X is a type of food. The price of X is initially $5 per unit, then this price increases to $7 per unit. Sarah's MRS, measured at any point along her indifference curve, is given by the formula: Y/3X. In one diagjarn [for parts Mal-11d\