Employees of magnificent manufacturing are spending the weekend restoring a home for a local family in need. the company and some of its vendors have provided all the necessary materials and company employees will make the repairs. magnificent manufacturing has written a news release and sent it to the local television stations and newspapers. this is an example of

(30 total points) suppose a firm’s production function is given by q = l1/2*k1/2. the marginal product of labor and the marginal product of capital are given by: mpl = 1/ 2 1/ 2 2l k , and mpk = 1/ 2 1/ 2 2k l . a) (12 points) if the price of labor is w = 48, and the price of capital is r = 12, how much labor and capital should the firm hire in order to minimize the cost of production if the firm wants to produce output q = 18?