Maina, the production manager of Maendeleo Ltd has been given a target of 1500

units of the product that the firm makes. The production function that relates units

of capital and labour is of the form:

Q = 240L^2/3 K^3/4

The cost per unit of capital and labour is Kshs 150 and 120 respectively.

Determine the number of units of each factor that he should hire so as to meet the

target at the minimum cost. Show your workings

(6 marks