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Fairway produces orders (q) with labor (E) and capital (K) with the production function: q = f(E,K) = 10E1/3K1/3 In the short run capital is
Fairway produces orders (q) with labor (E) and capital (K) with the production function: q = f(E,K) = 10E1/3K1/3 In the short run capital is fixed at 8 units. The price of each order (p) is $150. The wage rate is $10 per hour and the price of capital (r) is $2. Which of the following must be true when Fairway maximizes profits? Group of answer choices 150E^(-2/3) = 8 1000E^(-2/3) = 0 3000E^(-2/3) = 15 1000E^(-2/3) = 10 150E^(-2/3) = 10
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