Suppose that a firm uses inputs labour (L, measured in person hours) and capital (K, measured in machine hours) in the production of its output (Q) according to the production function Q =min{2L, 3K}. (1) Draw the isoquant line associated with 12 units of output. Remember to put K along the vertical axis and L along the horizontal axis. (2) Suppose that the price of labour is $2/person hour, and the price of capital is $4/person hour. What is the cost minimizing combination of labour and capital that produces 12 units of output. [lustrate this point on your graph, and explain your answer. (3) Suppose that the price of capital is fixed at $4 / machine hour, and that output is fixed at 12 units of output. What is the demand curve for labour? Explain your answer, and make the reference to your graph