Explain the firm's behavior in general based on a rigorous model Your answer should include following concepts:

Explain the firm's behavior in general based on a rigorous model

Your answer should include following concepts: Production Function, Isocost lines, Isoquants, adjustment of capital, Long run, Short run, total product of labor, average product of labor, marginal product of labor, marginal product of capital, ,marginal rate of technical substitution, upper ridge line, lower ridge line, cost minimizing point (input combination), long-run expansion path, short-run expansion path, total cost curve, total variable cost curve, fixed cost, short run average cost curve, average variable cost curve, short run marginal cost curve, long run total cost curve, long run marginal cost curve, long run average cost curve, market price of commodity, total revenue, total profit, marginal profit, profit maximizing price and quantity, demand curve of perfect competitive firm in the short run/long run, abnormal profit, entry of other competitors for abnormal profit, demand curve and marginal revenue curve to monopolist, monopoly price and output