Suppose a insurance marketing rm is a price-taker in the input markets and its output is sales of insurance policies. Suppose the rm has a production function, f(K, L) = KQLB, where K is the number of telephone-hours/week and L is number of marketerhours/week. Let 9" be the hourly rental rate of telephones and w be the hourly wage rate of the marketers. Let the rental contracts for telephones be renegotiated monthly. Thus, weeks within one month are the shortrun whereas the weeks in the following month are the longrun. Now, take the shortrun7 where the telephonehours / week are xed at K whereas marketerhours are variable. (a) (2) Derive the rm's conditional demands for labor and capital and its (shortrun) cost function. (b) (2) Derive the rm's average xed cost (SAFC), (short-run) average variable cost (SAVC), (shortrun) average total cost (SAC), and (shortrun) marginal cost (SMC) functions