What best describes the situation where a firm has negative profit but should stay open in the short run? The profit loss from operating is larger in magnitude than the total fixed costs The profit loss from operating is smaller in magnitude than the total fixed costs The profit loss from operating is larger in magnitude than the total variable costs The profit loss from operating is smaller in magnitude than the total variable costs Question 10 4 pts A firm uses labor (L) and capital (K) to produce rocking chairs (Q) with the following production function Q=LK. The wage (w) is $10 and the rate of capital (r) is $20. The target number of rocking chairs to produce is 800. Enter the number for the the optimal amount of L in the long run? Enter the number for the the optimal amount of K in the long run