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Question 3 Suppose a rm is currenlh.r using the production function {1(1), K) 2 LEE, 1where each workers' wage is $13 and each piece of
Question 3 Suppose a rm is currenlh.r using the production function {1(1), K) 2 LEE, 1where each workers' wage is $13 and each piece of capital costs $39 to rent. The rm WGUId like to produce 9:5 units of output at the lowest cost possible. You've been provided arid: the following equations for MPL and MPK: MP1} 2 K2 and MPK = ELK To produce 5'6 units of output at the lowest cost. the rm should use units of L and ' units of K. Youronswer should include onlyr numbers. Round to the nearest integer, if necessary. Their total cost of producing 915 units of output is $| . Do not include the $-sign in youronswer. Hound to the nearest integer, if necessary
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