3. (30 points) A firm faces the following total product curves depending on how much capital it employs: K=1 Unit Quantity Total Of labor production 1 100 2 152 3 193 4 215 5 233 6 249 7 263 K=2 Unit Quantity Total Of labor production 1 123 2 187 3 237 4 263 5 286 6 306 7 323 K=3 Unit Quantity Total Of labor production 1 139 2 193 3 263 4 319 5 366 6 407 7 410 UA a) Suppose that the firm currently employs 1 unit of capital and 3 of labor. Compute MRTS of labor for capital, MPL and MPK. b) Suppose that the firm currently employs 2 units of capital. The price of capital is $4 per unit and the price of labor is $10 per unit. What is the short-run total cost of producing 263 units of output? What is the long-run total cost of producing 263 units of output? c) Suppose the price of capital increases to $20 per unit and the price of labor falls to $5 per unit. Now what is the long-run to cost of producing 263 units of outputs