Let 5 represent the amouint of steel produced (in tons). Steel production is related to the amount of labor used (L) and the amcunt of capital used (C) by the follewirg function: S=20c0.20c.70 In this formula L represents the units of laber input and C the units of capltal ingut. Each unit of labor costs $50, and each unit of capital costs $100. (a) Formulate an optimization problem that will determine how much labor and cabital are needed in order to produce 50,000 tens of sted at minimum cost. If your answer is zero, enter "0? (b) Sove the optimization problem you formulated in part a. Hint: When using Exce solvec, start with an iritial L>0 and C>0. Do not round intermediate calculations. Round your answers to the nearest whole numbec. . L= cos cost=3