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Plz solve it for me Question 2 (14 points) Charlie owns a brownie factory and his production function is f (k, !) - ko.51025 Where

Plz solve it for me

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Question 2 (14 points) Charlie owns a brownie factory and his production function is f (k, !) - ko.51025 Where k denotes unites of capital and I is the units of labor. a. Bob wants to produce 2000 brownies a day. Suppose the price of capital (rent) is $10 and the price of labor (wage) is $20. What is the cost-minimizing total cost in the long run? When you are solving this question be sure to write the minimization problem, the associated lagrangian and the first order conditions. (8 points) b. In the short run Bob uses 25 units of capital. The rent and the wage are $10 and $20 respectively. Please write down the total fixed cost, total variable cost, total cost, average fixed cost, average variable cost and marginal cost. (6 points)

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