41. The Cobb-Douglas production model states that the yearly total dollar value of the production output P in an economy is a function of labor 3 {the total number of hours worked in a year} and capital 3; {the total dollar value of all of the stuff purchased in order to make things]. Specically1 P = Mbylb. By xing P, we create what's lrnown as an 'isoquant' and we can then solve for y as a function of .1: Let's assume that the Cobb-Douglas production model for the country of Sasquatchia is P = 1.2330'd-yu'\". (a) Let P=3and solvefory in termsofr. 1f= 100, what is 3;? (h) Graph the isoquant 30'] = 1.233'1yu'6. What information does an ordered pair (r, 3:) which make} P = 3m give you? With the help of your classmates, nd several different combinations of labor and capital all of which yield P = Sill]. Discuss any patterns you may see