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HelloCan you give me the answers of this exercise? 1. Consider a Cobb-Douglas production function given by Q = 10.4104. The cost of a unit

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HelloCan you give me the answers of this exercise?

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1. Consider a Cobb-Douglas production function given by Q = 10.4104. The cost of a unit of labor is w = 16 and the unit cost capital is r = 4. (a) Set-up the firm's cost minimization and find the conditional demands for labor and capital. (b) Find the firm's long-run cost function. Find the average cost curve and the marginal cost curve. If the long-run price P - 32, how many units will this firm produce? What is its profit? (d) Suppose that, in the short-run, capital is fixed at K, units. Find the short-run cost function. Find the short-run marginal and average cost curves. (e) Find the short-run profit maximizing quantity (as a function of price and K1) if the firm is operating in a perfectly competitive economy and takes prices as given. If K1 = 20 and P = 1, find the optimal quantity and the profit. Will the firm choose to produce at this price? (f) Is there a range of prices at which the firm will not operate

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