Q2.4 If firm 1 has the production function being q1 =10105 + 4K, and firm 2 has the production function being 42 =4LK', (12 points) a) In the short-run when K=1, please derive the total production, marginal product and average product for both firms as a function of L. Do both firms follow the law of diminishing marginal returns? b) When K =1, and L=1, what are the marginal rate of technical subsitution of K for L (# of L to be reduced when K increases by 1 unit) for both firms? c) Are firm 1 and firm 2 increasing, decreasing or constant return to scale