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The question is in the picture 3. (20 points) Production Consider the following production functions: (a) q = Vik (b) 4 = 012/3 (a) (10

The question is in the picture

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3. (20 points) Production Consider the following production functions: (a) q = Vik (b) 4 = 012/3 (a) (10 points) For each production function, indicate if the production function exhibits: increase ing, decreasing or constant returns to scale. For full-credit show your work, just stating the answer will not be sufficient. (b) (10 points) Find the marginal product of labor and determine if there are increasing, dimin- ishing or constant returns to labor

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