Question 2. A firm's production function is given by q = 4LiKi, where L denotes units of labour and K denotes units of capital. Each unit of L requires paying a wage w = f432 and each unit of K requires paying a rental rate r = f100. In the short-run, capital is fixed at K = 81. Derive the short-run cost functions (MC, AC, AVC, AFC) and illustrate these on a diagram. (8 marks)