ks 1 ) Suppose the production function is Q=K1/4L1/2 Let P be the price of output, and w be the wage rate, and r be the rental rate of capital. a) State the first and second order conditions for profit maximization. b) Solve for the factor demands and find the profit function. oQ - OL c) Show ow Op 2) Minimize y = x1 + 3x2 subject to x1 x2 29, x1 24, x2 2 0 3) Consider the maximization model subject to * +x2 - 0, X ; tax, =0 a) Write out all the first and second-order conditions. (You do not need to solve these conditions.) b) What does the maximization problem itself tell us about the signs of each of the following partial derivatives Oxi ox, Ox; OX4 da da, da, da