A firm has a production function of 
, the rental rate of capital is $60, and the wage rate is $30. In the short run, 
is fixed at 100 units.
a. What is the short-run production function?
b. What is the short-run demand for labor?
c. What are the firm's short-run total cost and short-run marginal cost?
Definitions:
Price-Earnings Ratio
The price-earnings ratio (P/E ratio) measures a company's current share price relative to its per-share earnings, indicating the value that investors place on a company's earning power.
Days Sales Outstanding
A measure of the average number of days it takes a company to collect payment after a sale has been made, indicating the effectiveness of its credit and collections policies.
Financial Condition
An overview of a company's financial health, including assets, liabilities, equity, income, and cash flows.
Market Value
The current price at which an asset or service can be bought or sold in an open market.
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