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------------------------------- A small firm produces raw lumber in a competitive market using just capital and labor. lt hires L howmwagmwwmmts K units of the equipment

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A small firm produces raw lumber in a competitive market using just capital and labor. lt hires L howmwagmwwmmts K units of the equipment (including Chainsaws and trucks) at a cost of r/hour. The firm produces felled trees (logs) according to the Cobb-Douglas production function q = AKaLb, where A > 0, a 2 0, b 2 0 anda+b

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