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1. Suppose that a producer has the following production function: Q-K1/3 1/6 Where Q is output, and L and K are man-hours and machine-hour the

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1. Suppose that a producer has the following production function: Q-K1/3 1/6 Where Q is output, and L and K are man-hours and machine-hour the two inputs used in the production process. 1A)(2 Points) Set up the cost minimization problem as shown in class 1B) (8 Points) Determine the cost-minimize ratio of inputs where capital costs $1 per machine-hour and labor I costs $4 per lab-hour. 1C) (2 Points) How many worker-hours are used to produce 100 units of output at these prices? 1D) (3 Points) What is the marginal cost of producing another unit of output at this output

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