16. Industrial Footwear Inc. uses capital and labour to produce workboots. a. Suppose this firm is using capital and labour such that the MPK is equal to 80 and the MPL is equal to 480. If the prices per unit of capital and labour are $2 and $16, respectively, this firm (1 ) its costs. The following substitution should be made: (2) b. Suppose this firm is using capital and labour such that the MPK is equal to 70 and the MPL is equal to 490. If the prices per unit of capital and labour are $3 and $12, respectively, this firm (3) its costs. The following substitution should be made: (4) c. Suppose this firm is using capital and labour such that the MPK is equal to 50 and the MPL is equal to 900. If the prices per unit of capital and labour are $6 and $54, respectively, this firm is (5) its costs. The following substitution should be made: (6) (1) (V) is minimizing (2) l 3 no substitution is required ( J is not minimizing ( 3 use more K and less L l 3 use more L and less K (3) l J is minimizing (4) (\"i no substitution is required (5) (:3 not minimizing ( J is not minimizing ( 3 use more K and less L (:3 minimizing ( 3 use more L and less K (6) l 3 use more L and less K 3 use more K and less L l 3 no substitution is required