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please solve Please type your NUMERICAL answer in the space below. ENTER ONLY THE NUMBER. IF answers are in decimals, please round the number to

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Please type your NUMERICAL answer in the space below. ENTER ONLY THE NUMBER. IF answers are in decimals, please round the number to one decimal point. A firm's production function is given by: F(L,K)=L1/3K1/3. You also know that the wage rate is $1, the price of capital is $1, and the price of the product is $144. a) In the short-run, capital is fixed at 27 unit. How many units of Labor (L) should this firm hire? L= b) How much profit is the firm making in the short-run? Profit Short-Run= c) Now suppose we are in the long-run. How much Labor and Capital does the firm employ in order to maximize profits when producing the same amount of output as in the short-run? Labor= Capital= d) How much profits does the firm make in the long-run? Profit Long-Run=

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