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Existing capital and labor inputs

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Now suppose that, in addition to its existing capital and labor inputs, Kendall Square, Inc must hire a manager for a fixed amount of $54 in order to function properly. Suppose that all firms have the same long-run cost function as Kendall Square, Inc (they must also hire a similar manager), and the market demand is given by D(p)=9720/p. Suppose there are 59 other identical firms in the market (i.e. 60 identical firms in total) and no entry or exit due to government regulation.

 What is the firm's profit?

Reference no: EM132511856

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