Hi, Can any one show me how to does this step by step. Thanks!

Problem 2: Long-Run Cost Minimization [8 points] Use the same production function, MPK, MPL, and prices from Problem 1(0 1 6) for the following C17 Q9. Suppose also that we are now in the Long-Run, and that the firm has decided to still produce the same (1* as in Problem 1. That is, the firm decides to set Q = 160. 7. If the firm wants to cost minimize, what must be the ratio of K to L that they employ given the prices in this market? [3 points] 8. Suppose that the firm wants to produce 0* = 160. What is its cost-minimizing choice of K 8: L? [3 points] 9. What are the firm's profits with this choice of K 8; L? Is this greater than or less than your answer to Q5? Why is this the case? [2 points]