4. (20 points) Suppose you are hired as a new manager of a firm producing 20 units of output with 10 units of labor and 5 units of capital. Assume the price of labor is $90 and the price of capital is $120. Along the isoquant, the MRTSK is as noted in Table 1. K Table 1 Points MRTS 0.30 7.35 b .500 .600 d .750 1.00 a e 6.35 5.6 5 a - - - Q = 20 7 10 11 L Given the above graph and table: a) In detail, explain the optimizing decisions for minimize cost assuming you can only hire whole numbers of workers (Hint: think about the MC and MB of changing L). b) How much total cost will you be able to save by changing the input combination