Spock Construction is trying to decide the lowest cost way to produce 500 new apartments.Currently they are using 10 acres of land (L) and 50 tons of concrete (C).Land costs $4,000 an acre and concrete costs $12 per ton.For the input amounts being used, MP_L = 50 and MP_C = 4.Show this situation in an isoquant-isocost diagram.Explain what is going on in the diagram and discuss how Spock can produce the same output at a lower total cost.