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12. (11 pts) A company's Cobb-Douglas production function is P(L, K) = 600LEK3, where L and K are number of units of labor and capital.

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12. (11 pts) A company's Cobb-Douglas production function is P(L, K) = 600LEK3, where L and K are number of units of labor and capital. If the budget equation is 40L + 100K = 3000, find the amount of units of Labor and Capital that should be used in order to maximize Production. Find that maximum production. Also, find 1 and give an interpretation of it. (Use Lagrange multipliers) S it bar (d seU) ilford eximixism of blue bris beoubang ed blubrie derli enine to said rose to Indoms aril bain (o long mumixam ert bail (b

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