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l) A rm has a production function f(x) = [3313:2323]? (a) Does f have increasing returns to scale? Does f have decreasing returns to scale? (b) Find the long run cost function LC('w1, mg, 103, q) and the conditional input demand function m(w,q) for any output q 2 0. Assume that wl = 1, mg = 2, m; = 4, and let LC(q) = LC (1, 2,4,q). What are the corresponding LMC(q) and LAC(q) functions? (0) Now assume that in the short run, the rm cannot adjust input 1 because it has signed a long term contract that commits it to purchase 3:1 = 100 at a price wl = 1. Find the short run cost function 80(w2,'w3,q). Again, assume that 1112 = 2 and 11):, = 4, and let 500:3) = SC(2,4,q). What are the corresponding short run xed cost, variable cost, marginal cost and average cost functions? Find the quantity q for which SAC(q) is minimized