ources D Question 5 16 pts Suppose a firm has a production function given by Q - L1/2K1/2. Therefore, MP = Ka and MPK = Li 2K 7 The firm can purchase labor, L, at a price w - 18 and capital, K, at a price of r = 32. a. If the firm wants to produce 60 units of output (Q=60), how much labor and capital should the firm hire in order to minimize the cost of production? b. What is the firm's Total Cost function, TC(Q)? c. What is the firm's marginal cost of production? Note: You will upload this work, along with all the other questions, at the end of the exam. Enter the word "Finished" into the text-box below when ready to move