Question: can you help me find the demand for labor function of output and provide explanation please 2. (33 points) A firm producing widgets faces the

can you help me find the demand for labor function of output and provide explanation please

2. (33 points) A firm producing widgets faces the following production function: q = kvl, (1) where k is capital and I is labor. The rental rate for capital is r = $4, and wage rate for labor is w = $16. (a) (10) In the short-run, capital is fixed at k = 4. Calculate the demand for labor as a function of output, and derive the short-run cost function of the firm. (b) (9) What is the firm's short-run average cost function? What is the firm's short-run marginal cost function? (c) (14) Graph the short-run average cost curve (SAC) and short-run marginal cost curve (SMC) for the firm. Where does the short-run marginal cost curve (SMC) intersect the short-run av- erage cost curve (SAC)? Indicate the number of quantity (q), SMC and SAC at the intersection point
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