Question: Suppose a competitive firm's production function is 1 9 0.5 . Assume K is fixed at 9 units in the short-run, r=$2, and w=$2. Fill

Suppose a competitive firm's production function is 1 9 0.5 . Assume K is fixed at 9 units in the short-run, r=$2, and w=$2. Fill in the table below. Hint: First solve for L in terms of q. Do not include any dollar signs. 9 L VC($) MC($) 0 1 2. 3 4 5 If price is $30, the firm's profit maximizing quantity is units, and the firm's profit at this quantity is dollars. Suppose a competitive firm's production function is 1 9 0.5 . Assume K is fixed at 9 units in the short-run, r=$2, and w=$2. Fill in the table below. Hint: First solve for L in terms of q. Do not include any dollar signs. 9 L VC($) MC($) 0 1 2. 3 4 5 If price is $30, the firm's profit maximizing quantity is units, and the firm's profit at this quantity is dollars
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