Question 1, Text HW Score: 0%, 0 Exercise 3.4 of 8 points Part 1 of 4 O Points: 0 of 1 Save Suppose that the production function is q = L0.50 0.50 What is the average product of labor AP, , holding capital fixed at K? O A. AP, =|~0.50 0.50 K O B. AP, = q/L. O C. AP, = 0.50L - 0.5010.50 O D. Both a and b. O E. All of the above.Question 2, HW Score: 0%, 0 Concept Question 5.1 > of 8 points Part 1 of 2 O Points: 0 of 1 Save Assume a Cobb-Douglas production function of the form: q = 10L 0.92 0.07 What type of returns to scale does this production function exhibit? In this instance, returns to scale equal (Enter a numeric response using a real number rounded to two decimal places.)What i1s the marginal product of labor MPL? ) A. 050050 MP, =050L K MP, =0.50(q/L). ~0.50 mp, =19k _ ~0.50 Mp, =L~ 0% Both a and b. Assume a Cobb-Douglas production function of the form: q=10L092K0-07 What type of returns to scale does this production function exhibit? In this instance, returns to scale equal 0.99 . (Enter a numeric response using a real number rounded to two decimal places.) This production function exhibits A B ) C. D E . decreasing returns to scale. initially decreasing but then constant returns to scale. constant returns to scale. initially constant but then decreasing returns to scale. Increasing returns to scale f(L, K\f. Ja KB10 0.92 7 0.07If a + 3