Imagine a firm that only uses capital (K) and labor (L).Use an isocost / isoquant diagram to illustrate the firm's equilibrium input mix for given prices of capital and labor and a given rate of output.Now illustrate what happens if the price of labor falls, and the firm wants to produce the same rate of output.What happens to the cost of production?Compare the relative marginal products of labor and capital (the MRTS) at the two equilibria.