midterm question

2. Technology and cost minimization (10 - 2 per subquestion) Consider a textile manufacturing firm that uses labor and capital inputs and has the production technology given by the equation Q = 4105105, where Q is output, K is capital and L is labor. Each unit of capital costs 9 TL while each unit of labor costs 4 TL. a) Define the cost minimization problem faced by firm. What is the objective function, what is the constraint? b) What are the conditional input demand functions for capital and labor of this firm? c) What is the total cost and marginal cost functions of the firm? d) Market demand for the firm's output is p = 103 - 20. What will be this firm's output? e) Now assume that all other firms in the market have a marginal cost of MC = 4. What would be the optimal strategy for this firm