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.) A rm has a production function f(x) = [slang]? (a) Does f have increasing returns to scale? Does f have decreasing returns to scale? (b) Find the long run cost function LC(w1,w2,'w3, q) and the conditional input demand function a:(w,q) for any output q 2 0. Assume that mm = 1, mg = 2, am = 4, and let L0(q) = L0(1, 2, 4,q). What are the corresponding LMO(q) and LAC(q) functions? (c) Now assume that in the short run, the rm cannot adjust input 1 because it has signed a long term contract that commits it to purchase 3:1 = 100 at a price wl = 1. Find the short run cost function SC(wg,'w3, q). Again, assume that 1U2 = 2 and 1113 = 4, and let 500;) = SC(2,4,q). What are the corresponding short run fixed cost, variable cost, marginal cost and average cost functions? Find the quantity q for which SAC(q) is minimized