The production function of Firm X below utilizes inputs; labor and capital in production. The firm faces the fixed price for labor at 5/unit and capital at 10/unit.

X = 10K^1.5L^0.5

Using Lagrange Multiplier Method,calculatethe cost-minimizing values of L, K, and C of Firm X if it decides to produce 1,000 units of good X then graphically illustratethe expansion path of Firm X if it decides to double its target output.