Suppose the production function for high-quality brandy is given by 4 = VKL where q is the output of brandy per week and L is labor hours. If the rental rates of capital and labor each equals 10, (a) Find the expression for the total cost curve (TC), marginal cost(MC) and average cost curves (AC). (b) In the short run, K is fixed at 100. Find the equations of short-run production function. (c) Find the equations for the short run total cost curve (STC), short-run marginal costs (SMC) and short-run average costs (SAC). (d) At what value of q are TC and STC equal? How is their relationship at other output levels? Why is it so? Show them on the same graph. (c) At what output level (q) are MC and SMC equal? What about at other output levels? Why is it so? Draw them on the same graph. (f) At what output level (q) are AC and SAC equal? What about at other output levels? Why is it so? Draw them on the same graph