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4. (10 points) A firm operates with the production function q = 0.510.510.5 and sells its output in a market where it is a monopoly

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4. (10 points) A firm operates with the production function q = 0.510.510.5 and sells its output in a market where it is a monopoly with the demand schedule p = 60 - 2q. K is fixed at 64 units and the wage rate is $8 per unit of L. a. Derive the MRP, function as a function of L. b. Determine how much L the firm should employ to maximize profit

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