1. Calculate the price per unit of labor?
2. Determine the minimum cost of producing 400, 800 and 1,200 units of output?
3. Determine the marginal rate of technical substitution at each cost-minimizing equilibrium point?
4. Calculate how many units of labor should the firm use to minimize the cost of producing 400 units of output?
5. Determine the numbers of units of capital should the firm use to minimize the cost of producing the 800 units of output?
6. Determine how many units of labor it should use if the firm decides to maximize output by producing 1,200 units of output.