Suppose the production function is given as that from Question 1. Suppose now that the wage and the rental rate are given by w =4 and r=8, respectively. What are the cost minimizing amounts of labor _ and capital K in order to produce a given quantity of output q? O (L ,K *) = (6q: 6q) O ( L , K ) = 29 29 3 : 3 O ( L . K * ) = 6 3q 3q O ( L K ) = 2 : 2QUESTION 1 2K 2/3 Suppose that a firm's production function is given by F(K, L) = 6K 231 1/3, in which case the marginal product of capital and labor are given by MPK =- MPL = 41 1/3 L 2/3 respectively and K 1/3