Assume labour is paid 200 a week and the cost of machine, Ask an Expert

Management Studies

Q. Consider a firm which has the following short-run production function.

Q = 25 L2 + 25K2 - LK

Where, Q = units of output per week

L = number of workers

K = number of machines

Assume 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, explain how many machines and labour must be employed?

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Operation Management, Management Studies

Category:- Operation Management
Reference No.:- M9309381

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