Question: Solve it plzzz The (partial) derivative of a function f(x, y) = army is ax'yj = amxm'ly. 6:: 1) Suppose a production function F{L, K)

Solve it plzzz

Solve it plzzz The (partial) derivative of a function f(x, y) =

The (partial) derivative of a function f(x, y) = army" is ax'yj = amxm'ly\". 6:: 1) Suppose a production function F{L, K) = Q = LK where L represents the variable input labour, K = 1 is the xed input capital, and Q stands for total output. a} b) C) d) 6} f) s) Explain whether this is a short-run or a long-run production function. Explain whether the production technology exhibits increasing. constant, or decreasing returns to scale. Determine the average product of labour. Determine the marginal product of labour. Explain whether the production function is not characterized by decreasing marginal product of labour. Determine the average variable cost function assuming the wage w = 2. Determine the marginal cost function assuming the wage w = 2. Determine the total cost inction assuming the wage w = 2 and the cost of capital r = 2. Determine the average cost function assuming the wage w = 2 and the cost of capital 1' = 2. Explain whether the production of the good is characterized by economies of scale or diseconomies of scale in the short-run

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