Please explain in detail how to get the answer as explained in the Response Feedback section. Explain easily and as explicitly as possible, step by step, without assuming previous knowledge please.

C O M M H HB FSA f G D Bb Week 13 - 2022 Bb Review Test Sul X X C https://bbhosted.cuny.edu/webapps/assessment/review/review.jsp?attempt_id=_145413112_1&course_id=_2142811_1&content_id=_71755747_1&outcome_id=_14... A> Question 9 0 out of 0 points Hallman's is a firm that produces and sells 2-inch polished finishing nails. Currently, the firm rents capital at $450 per week and hires workers at a wage rate of $220 per week. The market for finishing nails has some competition, and the current market price is $2 per pound. The following table provides the weekly labor-capital combinations the firm faces each week along with Q, the pounds of finishing nails possible with each combination. Furthermore, at the current level of capital, the marginal product of capital is 225. K Q (units) (workers) (pounds) 3 3 50 N 200 O 3 W 480 A 620 W 730 810 868 3 8 912 (Question 2 of 5) What level of output should the firm produce if it would like to minimize its costs? (ignore all possible "in-between" values and refer only to the values provided in the table) Selected Answer: @ [None Given] Correct Answer: 730 Answer range +/- 0 (730 - 730 ) Response To minimize costs, the firm should produce Q where MP_ = w = MPkr. Since capital is fixed (short run), then MPk- r remains the same at all level of Feedback: output. Solve and find that this equality occurs at Q = 730. Question 10 0 out of 0 points