Here if you have any doubts please ask me in comments here i used genral langrage multipliers methods
1a write a function for the profit if the firm produces x units of A and y units of B
# 1b use R function nlminb to find the pair of (x,y) that maximizes the profits.
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# put your result in 'optimal1'
A company produces x units of product A and y units of product B (both in...
This is the only information I was given in the question. N(x,y) = 10(x^0.8)(y^0.2) where x is the number of units of labor and y is the number of units of capital required to produce N units of the product. What is the marginal productivity of labor and the marginal productivity of capital? What are they when there are 40 units of labor and 50 units of capital? Nx(x,y) = 8y^.2/x^.2 Nx(40, 50) = 8.365 Ny(x,y) = 2x^.8/y^.8 Ny(40, 50)...
Sheet1 The Cobb-Douglas production function for a product is NIX.Y) - 10(x*O.B)(y^0.2) where is the number of units of labor and is the number of units of capital required to produce units of the product. What is the marginal productivity of labor and the marginal productivity of capital? What are they when there are 40 units of labor and 50 units of capital? NxIx.) Nx (40, 50) = Nyix,y) Ny 40, 50) If each unit of labor costs $100, each...
Need help on some of my calculus homework The Cobb-Douglas production function for a product is N(x,y) = 10(x^0.8)(y^0.2) where x is the number of units of labor and y is the number of units of capital required to produce N units of the product. What is the marginal productivity of labor and the marginal productivity of capital? What are they when there are 40 units of labor and 50 units of capital? Nx(x,y) = Nx(40, 50) = Ny(x,y) =...
The Cobb-Douglas production function for a product is N(x,y) = 10(x^0.8)(y^0.2) where x is the number of units of labor and y is the number of units of capital required to produce N units of the product. What is the marginal productivity of labor and the marginal productivity of capital? What are they when there are 40 units of labor and 50 units of capital? Nx(x,y) = Nx(40, 50) = Ny(x,y) = Ny(40, 50) = If each unit of labor...
anyone who understands advanced math, please help! 13 The graph below approximates the rate of change of the price of tomatoes over a 60-month period, where p(t) is the price of a pound of tomatoes and is time (in months). 14 15 16 17 18 19 20 21 22 23 0.07 0.06 p'(t) 0.05 0 15 24 0.04 30 0.06 0 -0.02 0 0.06 25 26 27 0.03 45 p'(t) (dollars per month) 0.02 60 0.01 28 0 0 10...
142 143 144 The Cobb Douglas production function for a product is 145 N(X) - 101X0.8)(y^0.2) 147 148 149 150 where is the number of units of labor and y is the number of units of capital required to produce N units of the product, 151 What is the marginal productivity of labor and the marginal productivity of capital? What are they when there are 40 units of labor and 50 units of capital? NxIx,y) - Bly/X)^0.2 Nx(40, SO) 8.4...
please also find approximate increase! The Cobb Douglas production function for a product is N(XY)-10[0.8)(y^0.2) where is the number of units of labor and y is the number of units of capital required to produce N units of the product, 142 143 144 145 146 147 148 149 150 151 152 153 154 155 156 157 158 159 160 161 162 163 What is the marginal productivity of labor and the marginal productivity of capital? What are they when there...
Sheet A company produces units of product and units of product (both in hundreds per month). The monthly profit equation (in thousands of dollars) is given by the following: P(x,y) - 4x2 + 4xy - 3y2 + 4x + 10y + 81 Find and evaluate . Use formulas to get an exact answer! Pxx.y) Px(1,3) What does this value mean? Answer in this textbox. Answer: What is the critical point of? What are the equations for, and ? o po...
Sheet A company produces units of product and units of product (both in hundreds per month). The monthly profit equation (in thousands of dollars) is given by the following: P(x,y) - 4x2 + 4xy - 3y2 + 4x + 10y + 81 Find and evaluate . Use formulas to get an exact answer! Pxx.y) Px(1,3) What does this value mean? Answer in this textbox. Answer: What is the critical point of? What are the equations for, and ? o po...
19. The product function for a company is given by f(x, y) 100x0.2 у0.7 , where x is the number of units of labor (at $48 per unit) and y is the number of units of capital (at $36 per unit). When the total cost of S100,000 is available for labor and capital, the maximum production level for this company is 147,314 units and the marginal productivity of money is .47314 a. Find the maximum number of units that can...