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Only answer question 5-9 please 1 Question: A rm has a Cobb-Douglas production function q = f(K, L) = KLlw' where K = I? =

Only answer question 5-9 please

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1 Question: A rm has a Cobb-Douglas production function q = f(K, L) = KLlw' where K = I? = 10,000,119 = 20, r = 0.01, a = 0.5 1. Compute total quantity in terms of labor (SR total product relation) 2. Determine the labor requirement relation 3. Compute the cost function in terms of quantity 4. Compute the supply curve of this rm 5. Assume the number of rms in the industry is 50, then, compute the market supply function 6. Find the elasticity of supply 7. For this demand function: Qd = 15, 000 100p, compute the equilibrium price and market quantity 8. Compute the level of employment of a firm 9. Find the prot of a rm

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