1) 2) 3) First answer as if the firm had no budget constraint or limit. What combination of resources can a firm consume for the least cost? What combination of resources will provide a firm with the most profit? Can a firm use a combination of resources that is both least-cost and profit maximizing? Now answer based upon a budget of $48 to employ both labor and capital. a. What combination of resources can a firm consume for the least cost? b. What combination of resources will provide a firm with the most profit? c. Can a firm use a combination of resources that is both least-cost and profit maximizing