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QUESTION
Consider a firm which has the following short-run production function.
Consider a firm which has the following short-run production function.Q = 25 L2 + 25K2 - LKWhere, Q = units of output per weekL = number of workersK = number of machinesSuppose labour is paid $200 a week and the cost of machine time is $100 per week. If the firm wants to produce 1225 units of output, how many machines and labour must be employed?
