1. Graphically show using isoquant model analysis how each of the following would affect the long run cost minimized production points: (show input key points on each axis, if specific inputs are not provided you can just use K and L) (12 points)
   1. Assume the government wishes to see society change from using robots as an input to highly skilled workers and has thus decided to tax firms that utilize robots as an input.
   2. The impact of technological innovation on the production of Q1, Q2, and Q3 of some good.
   3. A sale on capital equipment
   4. A budget reduction

Assume a company produces with inputs of turbines and automated hammers show the effect of the price of turbines rising