How many labor teams are required to produce 360 widgets

Reference no: EM13212059

the production function: Q=5KL
the assembly machines, K, costs $10,000 a week, while labor teams, L, cost $5000 per week.
your plant has 4 assembly machines

In the short run, ____ labor teams are required to produce 360 widgets?

How do you set this problem up?

Reference no: EM13212059

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