Which of the following is a correct formula when markup is based on selling price?
a dollar markup x selling price= percentage markup
b dollar markup + percentage markup = selling price
c dollar markup -divide by-percentage markup = selling price
d dollar markup-divide by- selling price = percentage markup

(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?