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thank you for the help Question 3 (Degree of Homogeneity, Returns to Scale and Theory of Costs) (a) Determine the degree of homogeneity of each

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Question 3 (Degree of Homogeneity, Returns to Scale and Theory of Costs) (a) Determine the degree of homogeneity of each of the functions: (i) Q = 3L + BK (ii) Q = (91. + 9K)\"5 (iii) Q = L0-5K0'5 + LK (iv) Q = 6L0-5K (v) Q = 4L0'2K0-3 (b) Do the production functions in (a) above exhibit increasing, decreasing or constant returns to scale? (c) The table below the total costs of producing bagels Quantity of Bagels Produced (In thousand boxes) Total M) 200 700 200 400 500 650 900 000 _ _ _ _ | M (i) Calculate the total xed cost, total variable costs, average variable costs, average cost and marginal cost of producing bagels. (ii) Suppose the mice of labor is given as PL = $15 determine the average product of labor and marginal product of labor for each level of output

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