A firm is producing chocolate bars using only labour. The production function is Q = 20L – 0.5L 2,..

A firm is producing chocolate bars using only labour. The production function is Q = 20L _ 0.5L 2, where L denotes labour. The firm is selling its chocolate bars in a competitive market and the price of a chocolate bar is £1. The firm hires workers in a competitive market. The wage paid to a worker is w. Write down the profit function of the firm and find the labour demand function (L as a function of w) of the firm.