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and iduo Q4. 2 8 K=0 K=1 K=2 K=3 K=4 L=0 0 O 0 0 0 2 :8 L=1 0 2 4 6 8 L=2(
and iduo Q4. 2 8 K=0 K=1 K=2 K=3 K=4 L=0 0 O 0 0 0 2 :8 L=1 0 2 4 6 8 L=2( 8 16 24 32 L=3 0 18 36 54 72 L L=4 0 32 64 96 128 a) (4%) Based on the table above, holding capital constant at 3 units in the short run, what is the marginal productivity of the second Labour, and what is the average productivity of three units of Labour? b) (4%) Based on the inputs and output table above, please derive the production function in the long run. c) (6%) Does the production function satisfy the "law of diminishing marginal returns" (LDR)? And determine the returns to scale for this production function? d) (6%) As we know Marginal Rate of Technical Substitution MRTSL, K= - AK/, please use the definition to proof MRTSL, K= MPL/ MP.) and explain your proof
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