Consider the vectors below for a constant input, capital (K), and a variable input, labor (L).

K L 3 5 3 6 3 7 3 8 3 9 3 10 3 11 3 12 3 13 3 14 3 15 3 16 3 17 3 18 3 19 3 20

1. The production function is given as: Q=0.5*K^0.35*L^0.65, where Q is the hourly output per line. Given the above inputs vector, theminimumamount of production is _____ units (per hour, per line).

Note: Round your answer to two decimal points.

2. Given the information in Question No. 1, themaximumamount of production is _____ units (per hour, per line).

Note: Round your answer to two decimal points.

3. Given the information in Question No. 1, theminimumamount of marginal product of labor is _____ units.

Note: Round your answer to two decimal points.

4. Given the information in Question No. 1, themaximumamount of marginal product of labor is _____ units.

Note: Round your answer to two decimal points.

7. Consider the information in Question No. 1 and your computation for varying levels of output, Q. Also, consider the profit function below (measured in dollars):

Profit=25*Q-2.5*Q^2.25

Themaximumamount of operating profit is _____ dollars (per hour, per line).Note: Round your answer to two decimal points.

8. Consider your answer to Question No. 7. Assume that there are 5 lines of production at this firm. Each line has 3 machineries (K=3, per line per hour). At any given hour, therefore, there are 15 machineries operating at this firm.

Maximizing economic profit, how many labor force will be employed at this firm, per hour?

9. Consider your answer to Question No. 7. Also keep in mind that there are 5 lines of production at this firm. Also, assume that each line operates for 21 hours per day, 6 days per week, and 52 weeks per year. The maximum annual profit is about _____ million dollars.

Note: Round your answer to only one decimal points.