Problems 9, A tirm performs accounting jobs using both labor (clerical workers) and specialized software programs accong to the production function Q = 0.5L+ 2K. The cost per hour of labor (L) is $10 and the bourly cost ot d software is $30, What is the least-cost way to complete 100 accounting jobs? Will the firm ever use both inputs to complete jobs? (2 marks) 10. A perfectly competitive industry has 50 identical firms producing a standardized product. The market demand for the good is P = each identical firm. (2 marks) 2 1,000-20Q, and the industry supply is P = 100 +Q.Find the profit-maximizing price and output of Jdentical Poms

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