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(See Steps) The production function is Q=2K^1/2L^1/2. The company has spent $10,000 on 4 units of capital equipment which it owns. If workers at the firm are

Question: The production function is \(Q=2{{K}^{1/2}}{{L}^{1/2}}\). The company has spent $10,000 on 4 units of capital equipment which it owns. If workers at the firm are paid a competitive wage at $100 and chairs can be sold for 200.00 each (the firm makes office equipment) what is your profit-maximizing level of output and labor usage. What is your maximum profit?

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