(Answered) For each statement below, state whether it is true or false.If there are diminishing returns, the…

For each statement below, state whether it is true or false.
If there are diminishing returns, the marginal cost curve must be positively sloped.
True
False
Marginal costs decrease as output increases because the firm can spread fixed costs over more units.
True
False
If average cost is increasing, marginal cost must be increasing.
True
False
For each production function below, indicate returns to scale.
Q = 10 + 5L + 5K
decreasing returns to scale
constant returns to scale
increasing returns to scale
Q = L0.4K0.7
decreasing returns to scale
constant returns to scale
increasing returns to scale
Q = L0.6K0.4
decreasing returns to scale
constant returns to scale
increasing returns to scale
Q = 5L + 5K + 5LK
decreasing returns to scale
constant returns to scale
increasing returns to scale
Q = L0.3K0.3N0.3
decreasing returns to scale
constant returns to scale
increasing returns to scale