5. Use the graph to answer the following questions 20 18 16 14 Q =800 12 y 10 Q =750 D Q =650 Q =500 4 B_ Q1=300 A 2 Q=200 Q =100 2 3 4 5 6 7 8 9 10 11 a Identify the regions of increasing, decreasing, and constant returns to scale on the following isoquants: Point L K Proportionate Change Proportionate Change in Q RTS in K and L between between points points A B C V D G Suppose r=$1 and w=$2. i. If the firm's goal is to minimize costs at an output of 300 (Q=300) what combination of K and L should it use? Write an equation for the firm's cost minimizing isocost. ill . What is the MRTS at that point? Explain.Using the production function Q = 2KL. a. Fill the following tables with values of L and K. Q=36 Q=48 Q=96 L K L K L K b. Graph the 17 isoquants that 16 show Q = 36, 15 Q=48 and Q = 96 14 13 c. Ifr = 2, w = 12 8 and TC = 34 11 then draw the 10 isocost (name it TCo). Write an equation for this isocost. d. Ifr = 5, w = 5 HNWAU and TC = 50 then draw the isocost (name it TC1). Write an equation m for this isocost. e. Ifr = 5, w = 10 and TC = 50 then draw the isocost (name it TC2). Write an equation for this isocost. f. Ifr = 5, w = 4 and TC = 50 then draw the isocost (name it TC3). Write an equation for this isocost. g. Which of these combinations of input prices and total costs minimizes the long run cost of Q = 36? How do you know? h. At this combination of input prices and total costs, what is the Marginal Rate of Technical Substitution (MRTS)? How do you know