Problems 1-3 concern cotton, which can be produced all over the world using the same basic long-run production function: q = L0.5K0.5 where q is output, L is labor, and K is capital. For example, labor is relatively inexpensive in India, and cotton is produced with this combination of inputs: L = 36 and K = 9. In the United States, labor is relatively expensive and it produces cotton with this combination of inputs: L = 4 and K = 81. 1. (5 points) If we were to map this production inction using isoquants, is it possible for India and the United States to be on the same isoquant? 2. (4 points) Based on how much L and K they actually use, do India and the United States have the same marginal rate of technical substitution? Calculate them based on the formula that we went through in class. 3. (4 points) If the price of capital (K) in each country is 50, what does this imply that the cost of labor is in each country if cotton producers are minimizing costs in each country? Solve for wage (w) in each country, the units of which are in dollars per week