This question has four parts, (a), (b), (c) and (d):

Suppose that a firm's production function is given by Q = 3L^0.6K^0.2.

(a) What is the returns to scale property of this production function?

(b) Will this firm experience economies or diseconomies of scale?

(c) Diagrammatically represent this firm's long run average and marginal cost curves and briefly explain your diagram.

(d) On a new diagram represent the above firm's long run total cost curve and briefly explain its' shape