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(Producer Choice) Consider the following information about a firm and answer the questions below: Y = 40L 2L 2 P = 60 W = 240

(Producer Choice) Consider the following information about a firm and answer the questions below: Y = 40L 2L 2 P = 60 W = 240 FC = 9660

a. Solve for the profit maximizing number of workers that would be hired.

b. Solve for the profit maximizing output.

c. Solve for the maximum level of profits.

d. If price was to increase - what would happen to the profit maximizing number of workers that would be hired?

What would happen to the profits?

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