Acme container corporation produces egg cartons that are, Business Economics

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Acme container corporation produces egg cartons that are

Acme Container Corporation produces egg cartons that are sold to egg distributors. Acme has estimated this production function for its egg carton division: q = 24L0.5K0.5 such that MPL = 12K0.5L-0.5 and MPK = 12L0.5K-0.5. Acme currently pays a wage of $10 and rental price for capital of $25. Find the minimum cost input bundle (L*, K*) to produce 1000 egg cartons?

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