Help me solve this question.
Subject: Economics for Business and Management

Q1: Short run production
Q2: Oligopoly

QUESTION 1
Solangor Metal Sdn &hd has the following total product (TP) function:-

TP = 55L + GL^3 -0.4L^3
Determine the range for the three stages of production in the short run. Compute the maximum marginal product for this firm. At what output level will the diminishing return starts?
Given w = RM15 and r = RM20, calculate the total cost of production at the maximum production. (15 marks)

QUESTION 2
Bersama incorp. has the following demand equation:-
Q1 = 1300 - 2Pa
Q2 = 824 - 1.2Pb
State the type of market structure this firm is operating and list three characteristics structure. If MC = 300, are the price and quantity at the kinked profit maximising. Justify your answer. Compute the new profit maximizing output and price. Briefly explain the long run profit for this firm (25 marks)

FOR YOUR REFERENCE:-
Avg function = total/Q
Marginal function = dTotal/dQ
Total Cost = TFC = TVC
= wL = rK
Profit maximising = MR = MC
Profit = TR - TC