a firm has the following production function

Q=K^0.8 L^0.2

a. show if this is constant , decreasing, or increasing returns to scale production function?

b. Find the marginal rate of technical substitution MRTS and discuss how the MRTS changes as the firm uses more L, holding output constant.

c. suppose the wage rate is 10 per hour and the rental rate of capital is 10 per hour. if th firm wants to produce 500 units of output, what is the cost-minimizing bundle of capital and labour?

The cost function of a dry cleaner is given as C=100+50Q-11Q^2+Q^3. obtain equations for the firms Average Cost, Marginal Cost , average fixed cost and average variable cost functions .

Now suppose the fixed cost rises to 200 for the dry cleaner. write equations for the firms marginal cost and average variable cost function for now?

Fireside company ltd. produces 1000 wood cabinets and 500 wood desks per year, the total cost being 30000. if the firm produces 1000 wood cabinets the cost would be 23000 if the the firm produced 500 wood desks only the cost would be 11000. Is there an opportunity for the firm to exploit economies of scope? if so what percentage of cost saving will result?