3. Consider a competitive rm which uses three inputs K (capital), L (labor), and A (land) to produce output y. The input prices are (wK = 2, 1.0L = 1, wA = 4) and the output price is p = 1. The rm faces the following production function: f(K,L,A)=A(\\/Z+\\/I(). In the short-run, the rm's land level is xed at E, but can choose labor and capital as it wishes. In the longrun, the rm can also vary its land level. First, derive the shortrun cost function given X. Then, use the short-run cost function to derive the longrun cost function. [Hint: Use an approach similar to the example in class, Where the prot-maximization problem can be decomposed into two steps. Here try to decompose the longrun cost minimization problem into two steps]