Suppose that a pharmaceutical company wants to grow in size but is constrained in the short run by its production capacity. What are some of the steps the company can take in the long run to overcome these constraints?a. Use cheaper materials b. Hire additional workers c. Build more factories. d. Expand the size of current factories.

(30 total points) suppose a firm’s production function is given by q = l1/2*k1/2. the marginal product of labor and the marginal product of capital are given by: mpl = 1/ 2 1/ 2 2l k , and mpk = 1/ 2 1/ 2 2k l . a) (12 points) if the price of labor is w = 48, and the price of capital is r = 12, how much labor and capital should the firm hire in order to minimize the cost of production if the firm wants to produce output q = 18?