Pls solve asap........ Liam has a t-shirt print screening business with a production function ofQ = K² L/2 = K?/L. Qis the number of t-shirts Liam prints, K is capitaland L is labor. K is fixed at 4 in the short run. The price of K is $200 (r=$200) theprice of L is $256 (w=$256).If the t-shirt industry is perfectly competitive and the price of a t-shirt is $10/shirtLiam will profit maximize by producing:10 t-shirtsO 25 t-shirtsO 200 t-shirts5 t-shirts2 t-shirts

At equilibrium, MPLMPK=wr given, w=256 and r=200.

Answered: Pls solve asap........

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Economics

Pls solve asap........

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Pls solve asap........

Liam has a t-shirt print screening business with a production function of
Q = K² L/2 = K?/L. Qis the number of t-shirts Liam prints, K is capital
and L is labor. K is fixed at 4 in the short run. The price of K is $200 (r=$200) the
price of L is $256 (w=$256).
If the t-shirt industry is perfectly competitive and the price of a t-shirt is $10/shirt
Liam will profit maximize by producing:
10 t-shirts
O 25 t-shirts
O 200 t-shirts
5 t-shirts
2 t-shirts

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