1. Consider a rm with production function Q (L,K) = 6111/ 2K 1/ 2 for labor (L) and captial (K). (In) If the cost of labor is in = 1, the cost of capital is r = 4, and the production target is Q0 = 24. Find the long-run cost-Ininimizing combination of labor and capital, and the corrcslaonding total cost. (1b) If the cost of labor is w = 1, the cost of capital is r = 4, and the production target is Q0 2 24. Find the short-run cost-minimizing combination of labor and capital, and the corresponding total cost assuming the the rm is stuck with K = 1 units of capital. (1c) Find the long-run capital demand (in terms of w, r and Qo). llette34 gillette34 gillette 34 gillette34 gillett k= (ld) Find the short-run capital and labor demands and short-run total cost (in terms of w, r and Qo) assuming the firm is stuck with K = 1 units of capital. ette34 gillette34 gillette 34 gillette L = K = STC =