The Bachelor Chow corporation sells dog food-like bachelor food. to produce the chow, the corporation needs to use a mix of kibles (K) and some water (W) in the following proportions : F(K,W) = K1/4W3/4.The marginal product of both inputs are given as: MPK= 14K3/4W3/4 and MPW=34B1/4C1/4. The cost of Kibbles is 5 adn the cost of water is 7.

a) [3 points] If Bachelor chow wanted to produce 140 cans of chow, how many Kibbles would it need such that it minimized its cost (in the long run)?

b) [3 points] Obtain the conditional factor demand function for kibbles: K.

c) [4 points] If the firm received an order for 140 Bachelor Chow, and only had W=11, would it be possible for it to meet its order? If so, how much Kibble would need to be used, and by how much would this cost more than the efficient long run input choice?

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