According to Production Engineers, the Firm's Production Function Gives the Following

Short Answer

According to production engineers, the firm's production function gives the following outputs that can be produced from various combinations of labor and capital. The firm can purchase labor services (w) for $20 per unit and capital services (r) for $40 per unit.
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-If the firm wishes to produce 87 units of output, which input combination is economically efficient: 5L and 1K, 4L and 2K, 3L and 3K, or 2L and 4K? Explain your answer.