A firm's production function is given by Y = 5 L K and faces costs for inputs of wL and wK.
a. Derive the firm's demand for labor and capital.
b. Derive the firm's cost function, C(wL;wK; Y ). Simplify it as much as possible - one term.
c. Derive the firm's supply function.
d. If wL increases by 50% by what percentage does cost and supply change?