marginal cost tunctions. In oeder to derive the cost function, the first step is to find the tocation of the cost-minimibing bundle on any given iscquant. To get a numerical answer, recall that the slope In answering the fotowing questions, use integer values only (domt enter unneeded decirtal points). a) Suppose that the wage is 32 per hour and that captal asso rents for $2 per hour. The slope of the isocost line is then equal to negative this outat. These levels are K= and L. The cost of this input bunde is 1 which gives C(1) (the cost function cicil evaluatod at O=1). D K la ciai c) Repeat this calculation for Q=2,3,,10, indicating your results below: Q KLC(Q) 3 4 5 6 7 8 9 10 c) Compute average cost ( AC) at each level of output by dividing C(Q) by Q, indicating your results below: Q AC 1 2 3 4 5 6 7 . B. 9 10 d) The neid step is to find the fom's mapgal cost function. MC is defined in the usual way: its the cost of an extra unit of output given a particular starting level cr a. For example, maginal cast at Q=1, of MC(1), equals C(2)-C(1). MC(2) =C(3)C(2), and so on. Using the results of part (b) compule marginal cost for all the different cutput levels, showing the result below? MC 1 2 3 4 3 5 7 7 8 7 w) On a pece of paver, gach beer the MC and AO Undora. Ther we 8. UWhaked torvet 16. turnes, vewed wosing curns