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1. Does this function have constant, increasing, or decreasing returns to scale? Explain. [05 Pts} 2. In the short run, what is his choice of
1. Does this function have constant, increasing, or decreasing returns to scale? Explain. [05 Pts} 2. In the short run, what is his choice of amount of chalk to produce 1 unit of grafti per day, in order to minimize his costs? [07 pts] 3. In the long run, how much of each input should be used if Adams wishes to produce 1 unit of graffiti per day, again, in order to minimize his costs? [08 pts]
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