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The daily output at a plant manufacturing radios is approximated by the function f(L, K) = 251KL 315 radios where L is the size of
The daily output at a plant manufacturing radios is approximated by the function f(L, K) = 251KL 315 radios where L is the size of the labor force measured in hundreds of worker-hours and K is the daily capital investment in thousands of dollars. If the plant manager has a daily budget of $24,000 and the average wage of an employee is $10.50 per hour, what combination of worker-hours (to the nearest hundred) and capital expenditures (to the nearest thousand) will yield maximum daily production? o a) 1100 worker-hours and $12,000 in capital expenditures o b) 400 worker-hours and $20,000 in capital expenditures C) 1500 worker-hours and $10,000 in capital expenditures d) 1200 worker-hours and $11,000 in capital expenditures
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