Technical Theory

Using my experience and knowledge of mics I have previously used, I would use a set of Rode NT5's, one for the neck and one for the sound hole. This microphone is a cardioid condenser microphone mainly used for acoustic instruments. Because even the lowest notes on an acoustic guitar are fairly high frequency, so the total range of a guitar when it comes to frequency would be mid to high range. Its frequency range is 20 Hz - 20 kHz. A reason why a condenser mic would be better than a dynamic mic is because it can pick up more sensitive sounds that a guitar can produce. Loads of this does depend on what style is being played. For example a condenser mic is highly recommended for a clean but soft sense of playing. The sound that comes from the guitar is mainly in one place which is the sound hole. This is why this mic is good because it has a cardioid polar pattern which is great for picking up sound mainly from the front. Though the sounds made on the the neck of the the guitar aren't that loud, the Rode NT5 will still be able to capture the more subtle sound like slides. 

Monitor speakers vary in models, makes, size and shapes. They also vary in frequency and field specifications. For example there are 3 different field ranges, near-field, mid-field and full range. When it comes near-field monitors, they are preferred to be used for more low sounding tones which is basically any bass guitars or lower octave synths or notes. An example of a near field monitor are the Yamaha HS80M monitors. With mid field monitors, they cover the more mid to higher ends or treble. An example of a mid field monitor are the KRK ROKIT Powered 10-3. With full range monitors, it covers all low to high frequencies. An example of a full range monitor are the BEHRITONE C50A monitors. If a comparison was to be involved, ideally you would have one set of full range monitores or one pair of near fields next to one pair of mid fields.  

A mixer is essentially a master controller for the studio. They have several separate channels with the same effects on each one. There are faders that control the volume of each channels individually as well as a master output fader. This is used to determine how loud you want the out put a channel to be. There are panning effects. Panning directs to sound to either the left or right speaker. This would be used in songs to help give a sense of space with in the song. There are gain knobs for each individual channels as well as the master gain which determines how sound is let through into the channels. Gains on individual channels are used to balance out the sound input which should be at 0. There is a cue button which allows the producer or who ever is behind the desk, to communicate with the artists or musicians that are being recorded. There are also knobs that add EQ. Also, a mixer can also be used as a controller for music software such as logic.