Home Tools Final Exam Hossa... Finals.pdf Sign In 2 / 2 125% 6 2 j) What would be an economic interpretation of the Langrangcan multiplier 1 from this problem? [3 points k) Based on your answer in part (f), how would you interpret your results if the Langrangean multiplier 1 = 5? 3 points) CO Question Four a) When the input price is constant, the slope of the total factor cost function will also be constant. True or False? Explain. [4 points) b) Whenever the total factor cost function and the total value of the product function are parallel to cach other, profits will be maximized. Truc or Falsc? Explain. [4 points c) Determine the returns to scale of the following production function (3 points) y= x +x7 + X X2 d) Interpret the finding in partc). [2 points] e) Sune Carlson contends that four forces interact to effectively determine the actions of profit-maximizing firms. Briefly discuss the four forces 18 points lu Home Tools Final Exam Hossa... Finals.pdf Sign In 2 / 2 125% 6 2 j) What would be an economic interpretation of the Langrangcan multiplier 1 from this problem? [3 points k) Based on your answer in part (f), how would you interpret your results if the Langrangean multiplier 1 = 5? 3 points) CO Question Four a) When the input price is constant, the slope of the total factor cost function will also be constant. True or False? Explain. [4 points) b) Whenever the total factor cost function and the total value of the product function are parallel to cach other, profits will be maximized. Truc or Falsc? Explain. [4 points c) Determine the returns to scale of the following production function (3 points) y= x +x7 + X X2 d) Interpret the finding in partc). [2 points] e) Sune Carlson contends that four forces interact to effectively determine the actions of profit-maximizing firms. Briefly discuss the four forces 18 points lu