Find the profit maximizing level of output at a plant

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Reference no: EM131079691

Suppose you are asked to find the profit maximizing level of output at a plant. You can sell as many units as you want for $200 per unit. How many machines and labor should you use? How much will you produce, and what will be the plant profits given the following info:

wL=80, wK=300,

MPk= 1.013k^(-.6602) L^(.5802). MPL=1.729k^(.3398) L^-.4198

Reference no: EM131079691

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