l l. A rm faces following production function: q = K515. Suppose the rental rate of capital F40 and wage rate for labor w=l 0. (25) a) b) C) d) 6) For a given level of output, what should be the optimal ratio of capital to labor in order to minimize cost? What is the minimum cost of producing 200 units?' At minimum cost for producing 200 units, how much capital and labor are needed? What is the minimum cost of producing 300 units'?' At minimum cost for producing 300 units, how much capital and labor are needed? Graphically show the long run-expansion path. Does this production function exhibit increasing, decreasing, or constant returns to scale'?I 12. Suppose total cost function of a firm is following TC = q3 - 36q2 + 1800q. (25) a) Calculate the quantity for which average total cost (ATC) of the firm is minimum. What is the average total cost for this quantity? b) Graph average total cost function (ATC) and marginal cost function on a same figure. c) Calculate and explain the cost-output elasticity for following quantities: i . q= 10 ii. q=18 iii. 9=30