Question: A firm's production function is given by Q = 4L1/2 + 5K1/2, where Q, L, and K denote the number of units of output, labour,

A firm's production function is given by Q = 4L1/2 + 5K1/2, where Q, L, and K denote the number of units of output, labour, and capital, respectively. Labour costs are $3 per unit of labour, capital costs are $4 per unit of capital, and output sells at $12 per unit. Find the profit function for this firm and hence determine the maximum profit and the values of L and K at which it is achieved.

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