1a) A firm's production function is Q = 10 + 30L - .5*L²+ 60K - .5*K², and its competitive demand function is P_Q= MR_Q = d = $30. The prices of L and K are P_L = $12 and P_K= $6. Use Excel Solver or otherwise to find the profit-maximizing and cost minimizing amounts of L and K to employ.

1b) Consider the following cost and demand information for a monopolist. Demand is Qm = 34 - 1*Qm,Total Cost is , TC = 20 + 2*Qm + .5*Qm². At the profit-maximizing quantity, the price elasticity of demand is?