1. (30 Total Points) Suppose a monopolist's production function is given by q = MIN(4L,K). The price of Labor is W = $12, and the price of Capital is r = $2. Also, the Market Demand is given by P = 165 5Q. a) (4 points) What is the lm's Total Cost function? TC(q) = b) (2 points) What is the rm's Marginal Cost? c) (2 points) How much output should the rm produce to maximize prot? d) (2 points) What price will the rm charge if it maximizes prot? PM: e) (4 points) How much Labor and Capital will the rm hire? La': K* = f) (2 points) What is the value of Consumer Surplus in this market? CS= g) (2 points) What is the value of Producer Surplus in this market? PS= h) (2 points) What is the deadweight loss that results from this market? i) (2 points) What is the value of the Lerner Index? Lerner Index =j) (8 points) Using a graph, draw the rm's Isocost and Isoquant at the prot maximizing level of output. Be sure your graph is completely and accurately labeled