Please provide the steps in solving and graphing the problem in the attached image.

You are given the following data: Cost = C = ,200.OO w SIC .00 per unit of labor r= SIC 00 per unit of capital These data are used to construct the isocost line (Cl ) in the diagram to the right. Suppose the wage increases to $20 00 but that the firm chooses to keep using the same amount of labor and capital to produce 200 units of output Given this new set of factor prices (w' $20.00, r=S10.00), how much have costs changed if the setofinput choices remains at (Entera numeric response using a real number rounded to two decimal places.) Use the line drawing tool to draw a new isocost line showing an increase in w to $20.00, given the firm chooses to keep using the same amount of labor and capital to produce 200 units of output. Label this line 'C2' Carefully follow the instructions above, and only draw the required objects. o 14 10 0 20 40 60 80 100 120 140 160 180 200 220240 Labor, L