Question: Solve clearly Consider the production function of gadgets: 0 = 5.3K !:2L, where Q is units of output per month, K is hours of capital

Solve clearly

Consider the production function of gadgets: 0 = 5.3K !:2L, where Q is units of output per month, K is hours of capital and L is hours of labour. Capital can be rented "at $80 per hour, and labour can be hired at $33 per hour. What is the maximum output for a monthly production budget of $24700? Answer. units (DO NOT ROUND YOUR CALCULATIONS UNTIL YOU REACH THE FINAL ANSWER. ENTER YOUR RESPONSE ROUNDED TO TWO DECIMAL PLACES. AND NO SEPARATOR FOR THOUSANDS.)

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