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Question in computer science sir solve this problem and provide me correct solution I ' m in very hurry... Question 1 Consider the following production

Question in computer science sir solve this problem and provide me correct solution I'm in very hurry...
Question 1 Consider the following production function:
y=F(L,K)=4L1tK13
where L and K are the amount of labour and capital used in the production process, and y is the output. Throughout this question, the output price p is 3 and the rental rate of capital r is 1.
We will first consider a firm in the short run, where the amount of capital is fixed at K=64. The fixed cost is therefore 64.
(a)(Level A) Is there diminishing returns to labour? Explain.
(b)(Level A) Suppose the wage rate w is 1. Find the profit-maximising choice of L. Calculate the profit-maximising output level and the maximised profit. (There is no need to check the second order condition - but of course you can check if you want to.)
(c)(Level A) Now suppose w increases to 2. Find the profit-maximising choice of L. Calculate the profit-maximising output level and the maximised profit. (There is no need to check the second order condition.) You can leave your answers in square roots.
(d)(Level A) What is the change in L when w increases from 1 to 2 in the short run? You can leave your answers in square roots.
Question 2[36 marks]
A mass of consumers is uniformly distributed along the interval 0,1. Two firms, A and B, are located at points 0 and 1 respectively. We denote by p, the price of firm iinA,B. A consumer located at point xin[0,1] obtains utility UA(x)=u-pA-tx2 if he consumes from firm A, and UB(x)=u-pH-t(1-x)2 if he consumes from firm B. In the following, we assume that the groes utility u is sufficiently high, so that the market will be covered and all consumets will get positive utility in equilibrium. Both firms have a cost function equal to Ti(q1)=(1+x)qi, where you should substitute x for the last number of your student ID number.
(a) Find the demand function for both firms.
[5 marks]
(b) Assume firms set their prices simultaneously. Solve for the Nash equilibriuma prices, and compute the equilibrium profits. [6 marks
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