Your family runs a company and each week you need to produce 1,000 units of your product. Your long-run production function is = 4^0.750.25 . For this function, the =(/)^.75 and the =3(/)^.25 . The weekly cost function is =10+2.

a. What ratio of capital to labor minimizes your family's total costs? (hint: find the expansion path!)

b. How much capital and labor will you need to meet your quota of 1,000 units?

c. How much will meeting this quota cost you?