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3. The production function is given by q=K?L? Let P be the price of labor and Pk be the price of capital. a. Solve for

3. The production function is given by q=K?L? Let P be the price of labor and Pk be the price of capital. a. Solve for labor as a function of output and capital (K) b. What is the total cost mathematical equation given some K and L? If capital is fixed = 8, what are the fixed costs? What are the variable costs? c. Using your solution in (a) to substitute for L in the cost equation. d. From c. find the short run marginal cost

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