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Please answer in depth & explain all parts. 2. (10 points) Indicate whether the following statements are TRUE or FALSE and explain your answer fully,

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Please answer in depth & explain all parts.

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2. (10 points) Indicate whether the following statements are TRUE or FALSE and explain your answer fully, but succinctly. Without an adequate explanation, you will get no credit. a) If the cost of production is minimized, then all inputs that are used must have the same marginal productivity. b) The long-run average cost of a homothetic constant-returns-toscale production technology is constant with respect to output

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