Question: Application exercise. Suppose that the total cost, C, of producing q0 = 100 units of output by a firm is given by the function C = f (k,l) = 0.2k + 5l, where k and l denote capital and labor, respectively. Also suppose that the firm's production function is given by the Cobb-Douglas form g(k,l) = 10k0.40.6 = q0. Find the quantities of capital and labor that minimize the total cost to the firm.