A firm uses labor (L) and capital (K) to produce rocking chairs (Q) with the following production function Q=LK.The wage (w) is $10 and the rate of capital (r) is $20. The target number of rocking chairs to produce is 800. Itis the short run and the amount of K is fixed at 5. What the optimal values for L* and K* in the shor… Show more… Show more Business Economics ECON 104 Share QuestionEmailCopy link Comments (0)