Kendall Square Inc makes and sells ramen to the large number of students around MIT. Kendall Square Inc uses the production function

(,)=(+2)1/3 (raised to power of 1/3)

Input prices are=2 and=3 for labor and capital respectively. It operates in a perfectly competitive environment facing a price=$48 , and uses an initial amount of capital =12

What is the optimal output level for Kendall Square, Inc in the short run?

= ?

What are its profits?

= ?

Compute Kendall Square Inc's long-run cost function. To verify that you have the correct long-run cost function, calculate the long-run cost of producing 8 units of ramen.

(8)= ?