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(1.4. A manufacturer of Washing Machine in Andheri Area faces the production function (2 = 4m. - Li + 54K 1.5M2 and input costs as
(1.4. A manufacturer of Washing Machine in Andheri Area faces the production function (2 = 4m. - Li + 54K 1.5M2 and input costs as Pl. [price of labour] = $10 and PK [price of capital] = $15. The manufacturer has recently taken a loan, that will allow him to spend to the extent of SEQ on labour and capital. He has hired you as an intern, knowing that you are a smart kid from a premier business school. He wants you to find out the optimal units of production and optimal combination of labour and capital he should use to produce the same
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