Question: Please answer A and B. Thank you in advance! Given: MPL (the marginal product of labor) - 50; CL (the per unit cost of labon

Please answer A and B. Thank you in advance!

Given: MPL (the marginal product of labor) - 50; CL (the per unit cost of labon - $8 MPk (the marginal product of capital) - 75 Ck (the per unit cost of captial) - $5 a. Is the combination of K and being used optimal? Why or why not? If not, how should the utilization of Land/or be changed to achieve the optimal combination of Kand L7 b. Suppose the cost of rises from 3 to 515. What changes in the amount of K and should take place? Explain IL

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