I am confused on how to approach the problem- any help would be greatly appreciated

PART B: COST-MININIIZATION i n 2' Pr i n ' 2 In I I [20 points] Imagine that you would like to run as mayor in a small town. You have learned that voters are inuenced by Flyers (F) and by ads run on local TV (T). These are the only two inputs into the production of votes, and there are no other costs involved. The Production Function of Votes is: Votes = 15F0-4T0-2 Here, F represents the number of yers you print, and T are the minutes of air time during which your commercials run on TV. Marginal products are as follows: MPT = 3110-41-08 and MPF =6F'0-6T0-2 This means that the MRTSFIT = % = 2 g. T a) On a graph with Flyers (F) on the horizontal axis and TV minutes (T) on the vertical axis, sketch the isoquants for Votes = 2000, Votes = 3000, and Votes = 4000. [ Note: Simple sketches are su'icient, no need for precise calculations . ] b) Printing yers (F) costs you $0.08 each, and each minute of air time on TV (T) costs $8. If you need 3,000 votes to win, what is the lowestcost combination of F and T that will bring you victory? What is the cost of obtaining these 3,000 votes? Add the costminimizin g mix of inputs to your graph from (a), labelling it A. Also sketch the isocost line that passes through A. c) Suppose the price per yer (F) drops to $0.04, how would your answer to part b change? Calculate both the new cost-minimizing input mix and the cost of obtaining 3,000 votes. Add the costminimizing mix of inputs to your graph from (a), labelling it B. Also sketch the isocost line that passes through B. Are inputs F and T complements or substitutes? [ Note: As always, assume that you can purchase non-integer amounts of F and T]