Suppose a monopolist has a production function given by Q = L1/2K1/2. Therefore,MPL= K^1/2 /2L^1/2 and MPk= L^1/2/2K^ ½. The monopolist can purchase labor, L at a price w = 16, and capital, K at a price of r = 9. The demand curve facing the monopolist is P = 360 – 2Q.   a) What is the monopolist’s total cost function?   b) How much output should the monopolist produce in order to maximize profit?   c) How much labor should the firm hire to produce this output?

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