Question: Please help with the two I could not figure out. Don't just use previous chegg answers please. Thank you, I will upvote for accurate answers.

Please help with the two I could not figure out. Don't just use previous chegg answers please. Thank you, I will upvote for accurate answers.

Please help with the two I could not figure out.

Let S represent the amount of steel produced in tons). Steel production is related to the amount of labor used (L) and the amount of capital used (C) by the following function: S = 10 _0.4 C 0.6 In this formula L represents the units of labor input and C the units of capital input. Each unit of labor costs $60, and each unit of capital costs $100. (a) Formulate an optimization problem that will determine how much labor and capital are needed in order to produce 40,000 tons of steel at minimum cost. If your answer is zero, enter "O". Min + 60 L 100 C 10 20.4 C 0.6 40,000 L, C 2 (b) Solve the optimization problem you formulated in part a. Hint: When using Excel Solver, start with an initial L > 0 and C > 0. If required, round your answers to two decimal places. L = 4,260.98 C= 3,834.95 Cost = $ 639,154.34

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