*I am stuck between two answers on part F) of this problem...which leads to a correct or incorrect answer in part G). I could use a second set of eyes, to help me solve for F & G.

Thank you.

3.Suppose a monopolist has a production function given by

Q = L^1/2K^1/2.

Therefore,

MP_L = , and MP_K =

The monopolist can purchase labor, L at a price w = 16, and capital, K at a price of r = 9.The demand curve facing the monopolist is P = 288 - 2Q.

a) (8 points) What is the monopolist's total cost function?

=24Q

b) (4 points) How much output should the monopolist produce in order to maximize profit?

Q=66

c) (6 points) How much labor should the firm hire to produce this output?

L=49.5

d) (4 points) How Much Capital should the firm hire?

K=88

e) (4 points) What price should the monopolist charge?

P=156

f) (4 points) What is the deadweight loss?

= (1/2) *(390 - 30)*(720 - 360)

= (1/2)*(360*360)

= $64,800

or

PC=MC

288-2Q=24

288-24=2Q

264=2Q

Q=132

(1/2)*(288-156)*(132-0)

=(1/2)*(132*132)

=66*132

=8712

g) (4 points) What is the Price Elasticity of Demand at the profit-maximizing price and quantity?