2. Suppose a firm's production function has the form f(K, L) = K212. Is this increasing, decreasing, or constant returns to scale? Explain why. I 3. Suppose a firm uses only capital and labor for production. It takes input prices as given at r = 6 and w = 3. Draw isocosts curves for the case that total costs are equal to C = 6 and for the case that C = 9 putting the level of labor on the vertical axis. 4. Suppose a firm's production function is f (K, L) = 1010.610.4. The prices of the inputs are r = 3 and w = 6. What is the ratio of capital to labor that minimizes the firm's cost for producing a given level of output? 5. Suppose a firm's production function is f(K, L) = 2K + 0.5L. If the firm takes input prices as given at r = 2 and w = 1, what is the cost function of the firm