solving for PS5.3.4. Attached related info for reference if needed. What is the firms profit?

1/1 point (graded) Kendall Square Inc makes and sells ramen to the large number of students around MIT. Kendall Square Inc uses the production function F (K, L) - (K + 2L) . Input prices are w - 2 and r = 3 for labor and capital respectively. It operates in a perfectly competitive environment facing a price p = $48, and uses an initial amount of capital K = 12. Compute the firm's short-run cost function. To verify that you have the correct short-run cost function, calculate the short-run cost of producing 8 units of ramen. C(8) = 536 536 Submit You have used 1 of 2 attempts Save Show answer Problem PS5.3.2 1.0/1.0 point [graded) What is the optimal output level for Kendall Square, Inc in the short run? What are its profits? 7 = 104 104 Submit You have used 1 of 2 attempts Save Show answer Problem PS5.3.3 1/1 point (graded) Compute Kendall Square Inc's long-run cost function. To verify that you have the correct long-run cost function, calculate the long-run cost of producing 8 units of ramen. C (8) = 512 512 Submit You have used 2 of 2 attempts Show answer Problem PS5.3.4 1 point possible (graded] Now suppose that, in addition to its existing capital and labor Inputs, Kendall Square, Inc must hire a manager for a fixed amount of $54 in order to function properly. Suppose that all firms have the same long-run cost function as Kendall Square, Inc (they must also hire a similar manager), and the market demand is given by D (p) = 120 . Suppose there are 59 other identical firms in the market (i.e. 60 identical firms in total) and no entry or exit due to government regulation. What is the firm's profit