Given the Cobb-Douglas function f(x, y) = 30x0.3y0.7, x is the number of units of capital input and y is the number of units of labor input. If the company is currently utilizing 4,500 units of capital and 3,000 units of labor, find the marginal productivity of capital and the marginal productivity of labor. For the greatest increase in productivity, should management encourage increased use of capital or labor?

Q: a. Find the ranges of the three stages of production. b. Demonstrate the relationship between Total…

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Q: A firm operates with the production function Q = K2L. Q is the number of units of output per day…

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Q: A company’s yearly total production cost C is typically given by C = C(n) = F + cn, where F is fixed…

A: A company’s yearly total production cost C is typically given by C = C(n) = F + cn, where F is…

Q: Suppose the daily cost, in dollars, of producing x television is C(x)=.003x3+.1x2+71x+540 and…

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Q: An open-top box with a square base is made with 1200 cm2 of cardboard. A. Express the area A = 1200…

A: The calculations are as follows

Q: The demand function for a manufacturer's product is D = 85 - 9p , where D is the number of units and…

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Q: The demand function for a firm’s product is P = 12 – 2Q. At what Q does the firm maximize total…

A: To find the revenue function R, multiply the demand function P by the quantity Q.…

Q: McRoberts Electronics sells 200 TVs per month at a price of $400 per unit. Market research indicates…

A: According to given, Total revenue is given by, R(x)= (200+x)(400-x) where x is the additional TVs…

Q: 5. You and your friend designed a cool T-shirt for snow boarders. Your friends are very impressed,…

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Q: Suppose demand is given by p = 1600 − x. Find the maximum revenue.

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Q: Consider the demand for tickets to see a specific hockey team play. The price of the ticket can be…

A: 1st we will find profit function and then use derivative to maximize profit  .

Q: Let q = demand for seats on a 500-seat airplane and p = price charged per ticket. Suppose that q =…

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Q: The manufacturing laundry sinks has fixed costs if $100 per day but has total costs of $2,500 per…

A: (a) Given Information - The fixed cost = $100 Production cost for 15 sinks = $2,500. Demand function…