The firm Greench produces T-shirts. The production function is given by the following: T-shirts = min(83 L, 17 K) The price of labor is $36, the price of capital is $43, the price of T-shirts is $100, and Greench's costs are $2516. What is the optimal amount of capital?

Micro Economics For Today
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ISBN:9781337613064
Author:Tucker, Irvin B.
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Chapter7: Proudction Costs
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The firm Greench produces T-shirts. The production function is given by the following: T-shirts = min(83 L, 17 K) The price of labor is $36, the price of capital is $43, the price of T-shirts is $100, and Greench's costs are $2516. What is the optimal
amount of capital?
Transcribed Image Text:The firm Greench produces T-shirts. The production function is given by the following: T-shirts = min(83 L, 17 K) The price of labor is $36, the price of capital is $43, the price of T-shirts is $100, and Greench's costs are $2516. What is the optimal amount of capital?
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