3. A firm is producing q = 345 with the cost minimizing input bundle _* = 23, K* = 15 when w = $5 and r = $10. a) In this situation which is greater: MPL or MPK? b) Use a carefully drawn and labeled graph (isoquants and isocost lines) to depict the outcome if when the cost of labor increases from $5 to $8, the optimal input bundle changes to L* = 18, K* = 19