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3 Suppose that a rm has cost function C(q, v, w) : 01/ 2101/ 2if. a) Suppose the rm sells their good on a competitive

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3 Suppose that a rm has cost function C(q, v, w) : 01/ 2101/ 2if. a) Suppose the rm sells their good on a competitive market, where the price of their good is $10. How much do they produce? Note: The answer will be a function of v and w. b) Solve for the firm's contingent demand functions for labor and capital. 0) Solve for the rm's unconditional demand functions for labor capital, using the fact that l(p,v, w) : [C(p,v,w) and k(p,v, w) : kc(p,v, w) d) Solve numerically for quantity produced and labor and capital demanded when 'U : 1, 1021. e) What happens to quantity produced and labor and capital demanded when '0 increases to 4

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