2. (From a previous'nal exam] Miguel and lake run a paper company. Each week they have a $2,500 to spend on producing reams of paper. The paper plant's long-run production function is Q = 4K0'75L0'25, where Q is the number of paper reams produced, K is the quantity of the capital rented, and L is the quantity oflabor hired. For this production function, the MPL = Ra/L\"75 and the MPK = 3L0'25/K0'25. The weekly cost function for the paper plant is TC 2 10K + 2L, where TC is the total weekly cost. a. What ratio of capital to labor minimizes Miguel and Iake's total costs? b. What is the optimal amount of capital and labor Miguel and lake should rent and hire if they plan to spend $2,500 on producing reams ofpaper each week? c. How many reams of paper will they be able to produce