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2. The manager of a national retailing outlet recently hired an economics to estimate the firm's production function. Based on the economist's report, the manager now knows that the firm's production functions given by Q=K/L/ and that capital is fixed at 1 unit. a. Calculate the average and marginal product of labor when 9 units of labor are utilized. b. Calculate the marginal product of labor when 9 units of labor are utilized. c. Suppose the firm can hire labor at a wage of $10 per hour and output can be sold at a price of $100 per unit. Determine the profit-maximizing levels of labor and output. d. What is the maximum price of capital at which the firm still make nonnegative profits?

2. The manager of a national retailing outlet recently hired an economics to estimate the firm's production function. Based on the economist's report, the manager now knows that the firm's production functions given by Q=K1/2L1/2 and that capital is fixed at 1 unit. a. Calculate the average and marginal product of labor when 9 units of labor are utilized. b. Calculate the marginal product of labor when 9 units of labor are utilized. c. Suppose the firm can hire labor at a wage of $10 per hour and output can be sold at a price of $100 per unit. Determine the profit-maximizing levels of labor and output. d. What is the maximum price of capital at which the firm still make nonnegative profits

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