How can I determine the below?
Suppose that Q = K1/2L1/2, w = $2 and r = $2. The combination of inputs that minimizes the cost of producing 2000 units and the total cost are:
a. K* = L* = 2000, TC = $8,000
b. K* = L* = 1000, TC = $6,000
c. K* = L* = 1000, TC = $5,000
d. K* = L* = 2000, TC = $2,000
e. More information is required to answer this question