Open with Google Docs c. [2 pts] Graphically show the firm's cost minimization problem using the firm's isocost and isoquant. d. [3 pts] Now imagine the rental rate of capital falls to $12.50 per unit. If the firm continues to produce 5,000 units how much capital and labor will the firm employ. What has happened to the capital to labor ratio? Why?1 Long-Run Costs [13 pts] A firm has the following production function: q = 50VKVI where the MP, and APp are given by MPL. = 251 K MPK 251 a. |4 pts) If the wage is $20 and the rental rate of capital (r) per unit is $20 and the firm hires 10 workers and 20 units of capital, is the firm minimizing costs? If not, how can the firm adjust its capital labor ratio to lower costs? b. [4 pts] If the wage is $50 and the rental rate of capital per unit is $50. How much K and L will a cost minimizing firm employ if it produces 5,000 units of output