Totally Tubular Socks (TTS) produces tube socks for the discerning sock aficionado. Their production function is Q = 30K 0.4 L0.7 , where K and L are their annual capital and labor inputs, respectively, and Q is TTS' annual output, measured in 1000s of pairs of socks. The prices per unit of capital and labor are PK = $2000 and V [ Select ] PL = $4000 F(K,L,A) = , respectively. 30.K^(0.4).L~(0.7)- *(2000K+4000L - (a) The Lagrangian function for the 150) t of producing 150,000 pairs of socks is F(K,L, A) = (b) The minimum cost of producing 30.K^(0.4) .L~(0.7)- ved when (2000K+4000L - TTS use K*~[ Select ] 150,000) [Select ] units o F(K,L,A) = m cost is C*~ [ Select ] C 2000K+4000L - (30.K^(0.4) .L-(0.7 (c) TTS' marginal cost (when cost is )-150) Select ] F(K,L, A) = 2000K+4000L - (30.K^(0.4).L(0.7 )-150,000)respectively. (a) The Lagrangian function for the problem of minimizing TTS' cost of producing 150,000 pairs of socks is [ Select ] (b) The minimum cost of producing 150,000 pairs of socks, is achieved when TTS use K*~ [Select ] C units of capital and L*~ [ Select ] V [ Select ] d the resulting minimum cost is C*~ [ Select ] 4.703 (c) TTS' marg 7.882 d) is approximately [ Select ] 3.057 6.231Totally Tubular Socks (TTS) produces tube socks for the discerning sock aficionado. Their production function is Q = 30K().4L0.7 , Where K and L are their annual capital and labor inputs, respectively, and Q is TTS' annual output, measured in 1000s of pairs of socks. The prices per unit of capital and labor are pK = $2000 and pL = $4000 , respectively. (a) The Lagrangian function for the problem of minimizing TTS' cost of A v producing 150,000 pairs of socks is [3310\"] (b) The minimum cost of producing 150,000 pairs of socks, is achieved when A TTS use K'k: [50'0\"] V units of capital and 13\": A 15'3"?\" l V units of labor, and the resulting minimum cost is (3*: [SCICCL] C _ (c) TTS' marginal cost (when cost is minimized) is approximately [Select] 0 _ and PL = $4000 , respectively. (a) The Lagrangian function for the problem of minimizing TTS' c producing 150,000 pairs of socks is [ Select ] C (b) The minimum cost of producing 150,000 pairs of socks, is ach TTS use K*~[ Select ] units of capital and L*~ [ Select ] units of labor, and the resulting minim C*~ [ Select ] (c) TTS' marginal cost (when cost is minimized) is approximately [ Select ] C V [ Select ] $124.69 $203.22 $177.81 sells its Gadgets in East Whoville $156.75 unctions for WGW's Gadgets in the