Ramona is a professional venture capital investor. She has discovered a new production process to grow carrots (Q) in th

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Ramona is a professional venture capital investor. She has
discovered a new production process to grow carrots (Q) in the
desert. Desert Grown Carrots or Sand Carrots, as they called it,
are the new sensation. Its production function is: 11 Q = (K −1)3
L3 where K is capital for example desert land, L is labor. The
price of K is r = 1 and the price of L is w = 1 monetary units.
a. Compute the conditional input demand for labor and
capital.
b. Compute the total cost, Average Cost and Marginal Cost
functions of this firm.