Let S represent the amount of steel produced (in tons). Steel production is related to the amount of labor used (L) and the amount of capital used (C) by the following function: S-10 L0.4 c0.6 In this formula L represents the units of labor input and C the units of capital input. Each unit of labor costs $60, and each unit of capital costs $100. (a) Formulate an optimization problem that will determine how much labor and capital are needed in order to produce 40,000 tons of steel at minimum cost. Min L04 C06 -Select your answer-9 4c 0.6 - Select your answer L, c -Select your answer (b) Solve the optimization problem you formulated in part a. Hint: When using Excel Solver, start with an initial L > 0 and C>0 If required, round your answers to two decimal places Cost = $