The Cobb-Douglas production function for a particular product is N(x,y)=60x0.6y0.4, where x is the number of units of labo If $300,000 is budgeted for production of the product, determine how that amount should be allocated to maximize productic Production will be maximized when using units of labor and units of capital of units of labor and y is the number of units of capital required to produce N(x,y) units of the product. Each unit of labor costs 560 and each unit of capital costs $120 ximlze production