1. Sameen's Sweat Soxcan produce sweat socks by employing capital (K) and labor (L)
   1. Draw an isoquant for Sameen's producing 100 pairs of sweat socks (using capital and labor). Assume that Sameen maintains this level of output throughout this problem
   2. Draw the lowest possible iso-cost line and label the equilibrium combination of K & L.
   3. Suppose the cost of labor falls
      1. Show the impact of the change on Sameen's iso-cost line.
      2. Show how Sameen adjusts in the Short Run
      3. Show how Sameen adjusts in the Long Run
      4. Compare the change in Short Run costs with the change in Long Run costs.