2. (3 points) Consider a company that provides lawn-care services where Q denotes the number of maintained lawns, N denotes the number of laborers, and K denotes the number of lawn mowers (per day). Each laborer can only use one lawn mower and can maintain 5 lawns per day. Therefore, this company's production technology can be expressed as Q=5min{N,K}. Denote the price of lawn-care services as p. ( 2 points) Now, suppose that the cost to rent a lawn mower drops to $75. Conditional on maintaining the same total cost level as in part (a), what is the firm's profit-maximizing quantity of lawns maintained? Graphically illustrate how the new optimum is found by drawing the isocost line and the isoquant. Graphically depict the magnitude of the substitution and scale effects. 2. (3 points) Consider a company that provides lawn-care services where Q denotes the number of maintained lawns, N denotes the number of laborers, and K denotes the number of lawn mowers (per day). Each laborer can only use one lawn mower and can maintain 5 lawns per day. Therefore, this company's production technology can be expressed as Q=5min{N,K}. Denote the price of lawn-care services as p. ( 2 points) Now, suppose that the cost to rent a lawn mower drops to $75. Conditional on maintaining the same total cost level as in part (a), what is the firm's profit-maximizing quantity of lawns maintained? Graphically illustrate how the new optimum is found by drawing the isocost line and the isoquant. Graphically depict the magnitude of the substitution and scale effects