3. The processing of Q tax returns can be done using hours of computer time (denoted by K

3. The processing of Q tax returns can be done using hours of computer time (denoted by K) and hours of human time (denoted L). The processing of Q = 120 tax returns requires either 4 hours of computer time (L = 0 and K 4) or 12 hours Of human time (L = 12 and K = O). Hours of computer time and hours of human time are perfect substitutes; for example, the processing of Q = 120 tax returns could also be done using K = 3 hours of computer time and L = 3 hours of human time. (b) (c) (d) Determine 4 points on the Q 240 isoquant. Write out the equation for the production function Determine the labor and capital demand in terms of w and r. Determine the total cost in terms of Q), w and T.