1.-Producing corn requires land, K and labor, L. K acres of land and L year-person labor result in the 1 harvesting of 2K5(10 x L2 L3) tons of com. a) Suppose K = 16. Obtain the average and marginal products of labor for this technology. Represent these two functions in the same graph, carefully marking (only) the important points (maxima, intercepts, ...). b) In general (i.e., for any values of K and L), is this technology characterized by increasing, decreasing, or constant returns to scale? 2.- A paper mill can produce paper of certain quality using labor, L, and two different types of pulp, 1 1 Finish, F, and Canadian, C. The production function is f (F, C, L) = FECEL. a) Is this technology increasing, decreasing or constant returns to scale? b) Suppose the firm is using 8 tons of each of the two types of pulp, F and C, and 10 hours of labor, but is considering reducing (by a very small amount) the use of pulp F. Per unit of pulp F, by how much does the rm need to increase the use of pulp C (keeping the same amount of labor L)