= > 2. A manufacturer produces wheels according to the production function: 9 4K1/2 L 1/2 where K is measured in units of capital, L in number of workers, and q in number of wheels per week. The prices of capital and labor are r = 2 and w= 4. (i) Draw the isoquant corresponding to a production of 100 wheels per week. (ii) Consider the following input combinations: K = 400 and L = 25, K = 100 and L=100 and K = 25 and L = 400. Are these points on the previous isoquant? Justify your answer. Represent graphically. (iii) Depict now the isoquants that go through the points K = 100 and L = 100, and K = 400 and L = 400. Are there constant returns to scale? Explain why. Consider now and depict capital fixed at K = 100 and the possible productions with L = 100 and L = 400. Can you show with this example diminishing marginal returns to labor? (iv) Find the total cost function (Cost as a function of quantity). (v) Represent in a diagram the firm's cost minimizing choice of factors to produce a given quantity q. If q= 800, how much K and L are used