Question: PLEASE ANSWER QUESTIONS D) AND E) ONLY Course: Introduction to Microeconomics Firm Chomba manufactures. T-shirts (Q) using two inputs. capital (K)- and labor (L1. During

 PLEASE ANSWER QUESTIONS D) AND E) ONLY Course: Introduction to MicroeconomicsFirm \"Chomba" manufactures. T-shirts (Q) using two inputs. capital (K)- and labor

PLEASE ANSWER QUESTIONS D) AND E) ONLY

(L1. During year 2021 demand for products has consistently increased. To copewith this increase in demand, owners increased hiring of workers. but during

Course: Introduction to Microeconomics Firm \"Chomba" manufactures. T-shirts (Q) using two inputs. capital (K)- and labor (L1. During year 2021 demand for products has consistently increased. To cope with this increase in demand, owners increased hiring of workers. but during that year they were unable to increase capital (machines. and material)- due to logistical difficulties in importing these goods during Pandemic. Use of capital and workers. per month in year 2021 is shown in table below. along with number of T-shirts produced per month: K L 0 January 10 30 139.0 Febrero 10 40 151.6 152.1 17"].2 129.3 186.6 193.3 199-5 205-3 210-? 215-9 220-? (a) Explain what is meant by "Law of Diminishing Returns". Also, based on input use and output table for year 2021. does company's technology comply with this Law\"? Support mathematically. b) Calculate Average Labor Productivity (ALP) of \"Chomba's\" technology in year 2021. Is it increasing. decreasing or constant? Justify c) Based on answer to previous question. what can be inferred regarding Marginal Productivity of Labor factor (MPL) for production range exhibited by \"Chomba\" in year 2021? d) During following years, company intends to purchase more machinery and materials to expand its production level. Owners of this company know their technology well and project an average use of inputs and production according to what is shown in following table: With this information, what kind of economies {or returns) to scale does production technology exhibit for production levels from 2021 to 2023? Justify your answer. e) If \"Chomba's'1 technology can be described as a Cobb-Douglas type production function. based on your answer to previous question. what do we know about exponents of this production function

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