1. Suppose manicures are produced according to m : mrm{s, l} where 5 is manicure supplies and l is a labor hour from a manicurist. (a) Is this production function homothetic? Plot. three isoquants for this production function and explain why or why not. (it) If manicure supplies cost p8 and manicurists charge pg per hour; what are the cost-minimizing quantities for s and 1 if the salon has booked 100 manicures for the week? (c.) What is the cost function? If PS : Pg : 10 how much is the salon spending this week? (d) The salon's supplier offers them an alternative manicure material 52 that. allows manicures to last twice as lone", but. it also costs twice as much. It still takes an hour of the manicurist's time to produce a. manicure. If the salon can charge 75% more for the longlasting manicure, is it worth it to buy the more expensive product