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Questions are in the photos. Thank you Question 3 1 pts A firm's production function is given by f(k,1)=10.0 102. In the short-run, capital is
Questions are in the photos. Thank you
Question 3 1 pts A firm's production function is given by f(k,1)=10.0 102. In the short-run, capital is fixed at k = 32. The firm can sell its output on a competitive market at a price p = $43. In the short run, how many workers does the firm hire if the wage is w=$16? Enter a numerical value below. You may round to the second decimal if necessary.Question 4 1 pts A firm has a short run cost function C(x)=7x-+10x+900, where 900 is a heating bill that only needs to be paid if the firm operates. It sells its products at a price p. In the short run, what is the minimum price p below which the firm would shut down? Enter a numerical value below. You may round to the second decimal if necessary. Enter a zero if the firm operates under any positive priceStep by Step Solution
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