Question: 2. Given production function Q(L) = L2, defined on [0. +00). derive the cost function, C(Q), and the profit function. 7r(Q). for a perfectly competitive

2. Given production function Q(L) = L2, defined on [0. +00). derive the cost function, C(Q), and the profit function. 7r(Q). for a perfectly competitive firm. Given that the production function is continuous (according to definition 4.4), use theorem 4.1 to show that the cost function and the profit function are continuous.

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