The production function (Q) of the Sneakers Inc. is given by: Q= 1/2 K 1/2 L 1/2 Where K =10,000 is the amount of capital in the short run with the price of capital (r) being $0.25 per unit, and L is the quantity of labor with price of labor including materials being $500 per worker. Assuming the sneakers market is perfectly competitive and the price is $60 per unit a. Using algebra and basic calculus, find the optimum quantity of workers that maximizes profit, the profit maximizing level of output, and the maximum profit. (8 marks b. What do you observe? (2 marks)

The production function (Q) of the Sneakers Inc. is given by: Q=21K1/2L1/2 Where K=10,000 is the amount of capital in the short run with the price of capital ( r ) being $0.25 per unit, and L is the quantity of labor with price of labor including materials being $500 per worker. Assuming the sneakers market is perfectly competitive and the price is $60 per unit a. Using algebra and basic calculus, find the optimum quantity of workers that maximizes profit, the profit maximizing level of output, and the maximum profit. (8 marks b. What do you observe? (2 marks) The production function (Q) of the Sneakers Inc. is given by: Q=21K1/2L1/2 Where K=10,000 is the amount of capital in the short run with the price of capital ( r ) being $0.25 per unit, and L is the quantity of labor with price of labor including materials being $500 per worker. Assuming the sneakers market is perfectly competitive and the price is $60 per unit a. Using algebra and basic calculus, find the optimum quantity of workers that maximizes profit, the profit maximizing level of output, and the maximum profit. (8 marks b. What do you observe? (2 marks)