C 4 Producer's Problem x C 4 Producer's Problem x C 4 Producer's Problem x z ECON 3102 (001) Inte X 5 EX ItBoz X A HW 5 X Homework Help - Q& X + C canvas.umn.edu/courses/276475/assignments/2125879 C MA Welcome to MyU University of Minn... Dashboard M Gmail YouTube Translate P MA7(EX_M... NTCE - 43... M Schedule Builder... 3102 Fall 2021 HW 5.pdf 001) & Download @ Info X Close - ZOOM + Fall 2021 HW #5 - Due Oct 12 at 9am ECON 3102 Producer's Problem (10 pts) Consider a firm that produces using capital (K) and labor (Na). The firm's production technology is: zF(K, Na) = zKaNa-a for some a E (0, 1). The Firm has a fixed amount of capital and can hire labor at exogenous wage w. Problems: (a) Set up the firm's profit maximization problem. (b) Prove the firm's technology is constant returns to scale in (K, Na). (c) Find the first order condition of the firm and interpret it. (d) Solve for the optimal labor demand of the firm. (e) Find the firm's maximum possible profit. (f) Is the labor demand increasing in K? Why