For the production function from the previous homework: y = Kα Lα Assume that the firm is in the long run (so you can use the long-run cost function you found in the previous homework) to answer the following: a. Consider the case of α = 1/(3 + A), where A is the last digit of your ASU ID#. Also, assume that the market operates under perfect competition. Obtain long-run quantity produced and profits for the firm (as a function of parameters w1, w2 and p). Also obtain the (long-run) unconditional input demands (as a function of the same parameters). b. For the case of α = 1/2 obtain the long-run output price p

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