Question: 10} The Cobb-Douglas production function for a company is given by PHI, 1} = 6551:0310} 10] where P is the monthly production value when k

10} The Cobb-Douglas production function for a company is given by PHI, 1} = 6551:0310} 10] where P is the monthly production value when k is the number of units of capital and I is the number of units of labor. Suppose that capital costs $60 per unit, Labor costs $140 per unit, and the total cost of capital and labor is limited to $313,003. Use Lagrange multipliers to write the system of equations you would USE to nd the number of units of capital and labor that maximize production
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