Question 3. Garcia produces oranges using two types of inputs: labor (L) and land (T). The production function for producing oranges is f(L, T)=10*min{2L, 3T}. In the short run, land is fixed at T=5.

a) In short-run, is it possible for Garcia to produce 300 oranges? Why or why not? Explain your answer.

b) If Garcia wants to produce 300 oranges, what is the least amount of land (T) he will need?

c) Suppose output price is p=$1, wage rate w=$2, and land rental rate r=$2. What is the optimal level of labor L that will maximize Garcia's profit in the short-run? (Hint: in the short-run, T=5 is fixed)?

d) In part c), what is Garcia's profit in the short-run when profit is maximized?