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If the manager of Kendall Square, Inc works hard, she can manage to transform the long- run cost function you derived in Q.3 by cutting

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If the manager of Kendall Square, Inc works hard, she can manage to transform the long- run cost function you derived in Q.3 by cutting Kendall Square Inc's variable costs in half. That is, she can halve the part of the long-run cost function unrelated to her fixed wage of $54. Suppose that the rest of the market doesn't change: the other firms can only hire mediocre managers who cannot cut the cost functions and so the long-run market price remains fixed at the same level you calculated in Q.5.b (a) What is the new optimal long-run production level for Kendall Square, Inc? (q*) (b) What are the new long-run profits for Kendall Square, Inc? (n

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