Suppose a firm’s production function is Q = (KL) 0.5 . In the short run, this firm’s capital

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Suppose a firm's production function is Q = (KL)0.5. In the short run, this firm's capital stock is fixed at 100. Calculate the firm's short run total cost curve if w = 5 and v = 5. It can be shown (using calculus) that this firm's short run marginal costs are .1Q. In order to maximize its profits, how much would the firm choose to produce if the market price of its output was $5, $10, or $20. For each price, calculate the firm's profits and indicate whether Q = 0 might be preferred.

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