A widget manufacturer has an infinitely substitutable production function of the form:q=2K + L

Graphisoquantsfor q=20, q=40 and q=60. On the same graph, graph theisocostlines for TC = 400, TC=600, TC = 800 and TC = 1000 and TC = 1200isocostlines if the wage rate (w) = $20 and the rental rate on capital (v) = $20.

1) Consider first the q=20isoquant. One point on the q=20isoquantis the point where K = 4 and L = _____. Now consider the TC = 1000isocostline. The TC = 1000isocostline intersects the X-axis where X is equal to _____. The least cost way toproduce q= 40 is to use _____units of capital and _____units of labor which will cost the firm $ _____.