Qgestion 12 Suppose a firm (with typically shaped isoquants) is producing such that: MPL = 60 MPK 32 w; 20 r- 16 To minimize the cost of production, this firm should: o o o o use more labor and less capital which will (likely) decrease the MPL use more labor and less capital which will (likely) increase the MPL use less labor and more capital which will (likely) decrease the MPL use less labor and more capital which will (likely) decrease the MPL