AlphaBee's production function is given by fik.l) = [ min{31,2k} j05, AlphaBee can sell its product at $30 per unit, can hire as many workers as necessary at wage w = $15, and use as much capital as necessary at a price r= $19. It does not face fixed costs. How many units does the firm produce? Hint: First, find AlphaBee's cost function. Enter a numerical value below. You may round to the second decimal if necessary.

ENGR.ECONOMIC ANALYSIS
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Chapter1: Making Economics Decisions
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AlphaBee's production function is given by frk.l) = [ min{31,2k) 10. AlphaBee can sell its product at $30
per unit, can hire as many workers as necessary at wage w = $15, and use as much capital as necessary at
a price r= $19. It does not face fixed costs. How many units does the firm produce?
Hint: First, find AlphaBee's cost function.
Enter a numerical value below. You may round to the second decimal if necessary.
Transcribed Image Text:AlphaBee's production function is given by frk.l) = [ min{31,2k) 10. AlphaBee can sell its product at $30 per unit, can hire as many workers as necessary at wage w = $15, and use as much capital as necessary at a price r= $19. It does not face fixed costs. How many units does the firm produce? Hint: First, find AlphaBee's cost function. Enter a numerical value below. You may round to the second decimal if necessary.
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