Question: Please solve it within 1 hour QUESTION #2: [6 marks It costs a company $12 to purchase an hour of labor and $15 to purchase

Please solve it within 1 hour QUESTION #2: [6

Please solve it within 1 hour

QUESTION #2: [6 marks It costs a company $12 to purchase an hour of labor and $15 to purchase a unit of capital. If L hours of labor and K units of capital are available, then 26K0.4 machines can be produced. Suppose the company has $10,000 to purchase labor and capital. What is the maximum number of machines it can produce? Formulate a nonlinear programming model in algebraic form and then use the Excel Solver to solve the model

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