4. Adapted from Besanko and Brauetigam (2014). Suppose a rm's initial production function is y = 500(L + 3K). As a result of an innovation, its new.r production function becomes 3,] = 1000(0.5L + 10K). (a) (2) On a welllabelled graph, draw the isoquant for the production scale of 10,000 units output for the old and new production functions. (b) (1) Based on the graph in part a) argue that the innovation resulted in technological progress. (c) (1) Based on the graph in part a) argue if the technological progress is neutral, labor saving, or capital saving