Question: Solve clearly A firm estimates its production function as O = -2.4 + 20*L -.5*L2 + 30*K -1.OO*K2 + 15*F -.3*F2. Total cost is TC

Solve clearly A firm estimates its production function as O =

Solve clearly

-2.4 + 20*L -.5*L2 + 30*K -1.OO*K2 + 15*F -.3*F2. Total cost

A firm estimates its production function as O = -2.4 + 20*L -.5*L2 + 30*K -1.OO*K2 + 15*F -.3*F2. Total cost is TC = $2*L + $2.5*K + $1.75*F. The firm can sell all the output it wishes at $200 per unit. Use Excel to find the cost minimizing and profit- maximizing amounts of L, K and F. How much F (Fuel) should the firm use? A.F=7. B. F=12. C.F=16. D.F=19. E. F=25. A competitive firm's production function is O = 100 + 40L - .5L2 + 20K - .5*K2, and its demand function is P0 = MRQ = d = $30. The prices of L and K are PL = $4 and PK = $12. Find the profit-maximizing amount of output 0. A.O=878. B.O=924. C.O=1024. D.O=1100. E. O=1250 m

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