Question 24 (3 points) A competitive rm with output y has a production function y = (31 + y)\

Question 24 (3 points) A competitive firm with output y has a production function y = (3x + y)l/2, where x and y are inputs used in production. The firm produces the output minimizing cost. With input prices and Wy, which of the following is true? O The firm has L-shaped isoquants. C) The technology has increasing returns to scale. O The firm must use only input x if wx < swy. O More than one of the above is true. O The firm must use only input x if wx < 3wy.