Question

Par t II: Rates of Change in Functions of Several Variables 11.1. The table below lists values of the function zlx y) where z: production level in thousands per day x: labor cost, in millions of dollars per year, and 015 31 19 The current levels of labor and capital ex penditures are 20 and yo- 30 million $ per year a. What is the current production level? Units: b. Use a centered difference quotient to estimate the instantaneous rate of change in production with respect to labsor cost, at the current levels of labor and capital. Units: c. Use a centered difference quotient to estimate the instantaneous rate of change in production with respect to capital investment, at the current levels of labor and capital. Units: 20 and yo 30. d. Form the expression for the tangent plane to the production function at xo e. Use the tangent plane to estimate production when labor cost is decreased by 2 mly and capital is increased by 4 mly. Units

Answer 1

| a thousand 236 1o У-30