Problem
Suppose the production of airframes is characterized by a Cobb-Douglas production function: Q LK. The marginal products for this production function are MPL = K and MPK = L. Suppose the price of labor is $10 per unit and the price of capital is $1 per unit. Find the cost-minimizing combination of labor and capital if the manufacturer wants to produce 121,000 airframes.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.