i)derive the Total Cost Function, TC(q) ii) draw the Isoquant for the given level of output iii) draw the Isocost associated with the minimum Total Cost of producing the given amount of output, iv) identify the cost minimizing amount of Labor and Capital (L* and K*), v) determine whether the production function exhibits increasing, c

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A:

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A: * ANSWER :- * A)        at eqm, MRTS = w/r                         MRTS = MPL / MPK

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