A4 Industrial produces hydraulic pumps. The manager believes that the firm's demand function is approximately linear. Data for monthly output (number of pumps) sold and price are given in the chart below. Q = quantity of boats produced per year L=number of full-time workers per year K-capital number of shops) rented per year P= average selling price per pump sold 1 2 4 Month Oct-15 Nov-15 Dec-15 Jan-16 Feb-16 Mar-16 Apr-16 May-16 Jun-16 Jul-16 Aug-16 Sep-16 Oct-16 Nov.16 Deo-16 Jan-17 Feb-17 Mar-17 Apr-17 May 17 Jun-17 Jul-17 Aug-17 Sep 17 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 L 120 122 118 110 116 120 124 125 130 127 128 136 140 135 130 IBS 128 138 K 25 25 26 26 24 24 27 27 28 28 27 27 27 28 28 29 29 30 30 28 29 29.0 30.0 30.0 1150 1170 1160 1122 1128 1146 1193 1202 1235 1219 1216 1250 1265 1255 1233 1264 1235 1286 1315 1282 1260 1290 1300 1324 P $438.93 S437.88 S438.46 S440.14 S439.96 S439.01 $436.90 $436.38 S434.92 S435.58 $435.85 $434.09 S433.54 $433.85 $435.05 S433.43 $434.95 $432.39 S431.19 S432.58 S433.78 S432.20 S431.89 S430.72 145 141 134 140 142 146 A4 Industrial hires labor and procures capital in competitive input markets. For that last two years, the input prices have been constant, and given as follows: w = $2,400 = monthly wage rate per worker r = $1,600 = monthly rental rate per shop The firm also faces fixed cost (FC) of building rental, fixed capital, and overhead expenses given as follows: S = $60,000 7. State the firm's Cobb-Douglas total cost function and marginal cost function. (Refer to questions 1 - 4, and to the Lecture 3 notes, page 47.) Round to 4 decimal places. C - FC + cierto C=# + #Q" MC = - Calients MC = #