9) A company that manufactures computers have determined that its production function is given by Pr,y) 500x +800y...
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...
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...
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) =...
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...
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...
8. 0.6/4 points | Previcus Answers My Notes This is Section 6.1 A company that produces skis has the Cobb Douglas production function Q=/(x,y)-180x0.,0.3 , where Q is the number of pairs of skis produced per month, x is the number of thousands of labor hours per month and y is the value of the equipment in units of thousands of dollars. The company currently has a labor force of 3,000 labor hours per month and $50,000 of capital skis...
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)...
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...
A company produces x units of product A and y units of product B (both in hundreds per month). The monthly profit equation (in thousands of dollars) is given by the following: P(x,y) = -4x^2 + 4xy - 3y^2 + 4x + 10y +81 Find P: (x,y) and evaluate P,(1,3). Use formulas to get an exact answer! Px(x,y) = Px(1,3) = What does this value mean? Answer in this textbox. Answer: What is the critical point of P(x,y)? What are...
4. Consider the production functions given below: a. Suppose that the production function faced by a milk producer is given by Q = 40.5 20.5 = 4VK VL, where MPx = 2K-0.5 20.5 = 2 and MP, = 2 K0.5L-05 = 2 * i. Do both labor and capital display diminishing marginal products in the short run? ii. Find the marginal rate of technical substitution for this production function. (Hint: The MRTS = 1) iii. Does this production function display...