1.The Longheel Press produces memo pads in its local shop. The company can rent its equipment and hire workers at competitive rates.Equipment needed for this operation can be rented at $52 per hour, and labor can be hired at $12 per worker hour.The company has allocated $150,000 for the initial run of memo pads.The production function using available technology can be expressed as:

Q = 0.25K^0.25L^0.75,

where Q represents memo pads (boxes per hour), K denotes capital input (units per hour), and L denotes labor input (units of worker time per hour).The marginal products of labor and capital are as follows:

MPL = (0.75)(0.25)K^0.25L^-0.25

MPK = (0.25)(0.25)K^-0.75L^0.75

1)Determine the appropriate input mix to get the greatest output for an outlay of $150,000 for a production run of memo pads. Also, compute the level of output.