Use the prompt below to answer questions #14-15. Now suppose…
Use the prompt below to answer questions #14-15. Now suppose The Big Horn Corporation uses labor (L) and capital (K) in the long run to produce output, according to: where Q is output per day, L is labor units per day, and K is capital units per day. The price of labor is $10/unit and the price of capital is $3/unit. You may assume that fractional units of L, K, and Q are possible.