Question 2 The production of magic chairs requires only two inputs: seats (S) and legs (L) (no other inputs are required as magic chairs assemble themselves). Each chair requires 1 seat and 4 legs. Thus the production function is given by as, L) = Inin{S, i}. You may assume that seats, legs and magic chairs are innitely divisible. (That is. it is possible to use 0.3 seat or 3.4 legs or produce 2.3 chairs.) (a) (level A) Does this production function exhibit increasing, decreasing or constant returns to scale? Explain. (Hint: min{2:r,2y} = 2min{:r, y}.) (b) (Level B) Suppose seat costs $5 each while legs costs $1 each. Find the total cost, average cost and marginal cost of producing 39 magic chairs