Q$19\_60$: You are the manager of a manufacturing firm that uses $K$ and $L$ as inputs. The firm produces and sells a given output. If wage rate is $w=$$$50,$ rental price of capital is $r=$$$160,M{P}_L=150,$ and $M{P}_K=380,$ the firm

is profit maximizing but not cost minimizing.

should use less of both $L$ and $K$ to cost minimize.

should use less $L$ and more $K$ to cost minimize.

should use more $L$ and less $K$ to cost minimize.

is cost minimizing.

Note: Enter your chosen answer as a numerical value: $1,2,3,4,$or $5.$