A firm that only employs labor (L) has the following production function Let the price of output is p and the price of labor (relative to output price) is w. a. Write out the profit function for this firm as a function of labor, L. b. What is the necessary first-order condition for the firm to maximize profit when L>0

On july 2, year 4, wynn, inc., purchased as a short-term investment a $1 million face-value kean co. 8% bond for $910,000 plus accrued interest to yield 10%. the bonds mature on january 1, year 11, and pay interest annually on january 1. on december 31, year 4, the bonds had a fair value of $945,000. on february 13, year 5, wynn sold the bonds for $920,000. in its december 31, year 4, balance sheet, what amount should wynn report for the bond if it is classified as an available-for-sale security?