I Q2. A firm's production function is given by Y = 2L²+3K²/ Where Y, L and K denote the number of units of output, labour and capital. Labour costs are 2 pounds per unit, capital costs are 1 pound per unit, and output sells at 8 pounds per unit. (a) Show that the profit function is = 16L +24K - 2L - K (b) Find the maximum profit and the values of L and K at which it is achieved.

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