economics - PART I(20 POINTS A firm that manufactures office desks has the following production function in the short run Q = 400 L0.8 K0.5 where Q =

economics - PART I(20 POINTS A firm that manufactures...

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PARTI (20 POINTSA firm that manufactures office desks has the following production function in the short run:Q = 400 L0.8K0.5where Q = the quantity of chairs produced in a monthL = the amount of labor (hours of work) used in a monthK = the amount of capital (building, machines, equipment) used.Assume that in the short run L = 1,000 and K = 100.1.What is the quantity produced if L = 1,000 and K = 100? (5 points)2.What is the quantity produced if L = 1,200 and K = 100? (5 points)3.What is the quantity produced if L = 1,400 and K = 100? (5 points))

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