4. Consider the following two rm-level production functions, both of which exhibit increas- ing returns to scale: y,- = F(k,-,h,-) = Ash, and y,- = ma, a, Y) = Aihyt. (4) Here Is,- and h,- are capital and labour which rm i chooses to produce its output, 92,-. Y is aggregate output in rm i's industry, which it takes as given. a. Explain the differences between these two production functions from rm is per- spective. b. For the overall economy, the second production function is consistent with a com- petitive equilibrium in which the price equals rm is marginal cost, whereas the rst is not. Why is this