Question: 3. (30 total points) Suppose a rm's production function is given by Q = L2*K2. Thc Marginal Product of Labor and the Marginal Product of

3. (30 total points) Suppose a rm's production function is given by Q = L\"2*K\"2. Thc Marginal Product of Labor and the Marginal Product of Capital are given by: ,andMPK= 2L1" 2K"2 ' a} [12 points) If the price of labor is w = 48, and the price of capital is r = 12, how much labor and capital should the rm hire in order to minimize the cost of production if the rm wants to produce output Q = 10'? b] [12 points) What is the rm's Total Cost function TC(Q)? c] (6 points) What is the lm's marginal cost of production

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