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3. a. A firm produces two different kinds A and B of a commodity. The daily cost of producing a units of A and y units of B is C(x, y) = 0.04x² +0.01xy +0.01y² + 4x +2y + 500 A sells for $15 per unit and B sells for $9 per unit. Find the daily production levels of x and y that maximize profit per day b.A firm's production function is given by F(K,L) = KL. Each unit of K costs $1.2 and each unit of L costs $0.6. Each unit of output sells at $12. Find the optimal level of K and L that maximize profit.

3. a. A firm produces two different kinds A and B of a commodity. The daily cost of producing a units of A and y units of B is C(x, y) = 0.04x² +0.01xy +0.01y² + 4x +2y + 500 A sells for $15 per unit and B sells for $9 per unit. Find the daily production levels of x and y that maximize profit per day b.A firm's production function is given by F(K,L) = KL. Each unit of K costs $1.2 and each unit of L costs $0.6. Each unit of output sells at $12. Find the optimal level of K and L that maximize profit.

Calculus: Early Transcendentals
Calculus: Early Transcendentals
8th Edition
ISBN:9781285741550
Author:James Stewart
Publisher:James Stewart
Chapter1: Functions And Models
Section: Chapter Questions
Problem 1RCC: (a) What is a function? What are its domain and range? (b) What is the graph of a function? (c) How...
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3. a. A firm produces two different kinds A and B of a commodity. The daily cost of producing units of A and y units of B is C(x, y) = 0.04x² +0.01xy +0.01y² + 4x + 2y + 500 A sells for $15 per unit and B sells for $9 per unit. Find the daily production levels of x and y that maximize profit per day b.A firm's production function is given by F(K,L) = KL. Each unit of K costs $1.2 and each unit of L costs $0.6. Each unit of output sells at $12. Find the optimal level of K and L that maximize profit.
Transcribed Image Text:3. a. A firm produces two different kinds A and B of a commodity. The daily cost of producing units of A and y units of B is C(x, y) = 0.04x² +0.01xy +0.01y² + 4x + 2y + 500 A sells for $15 per unit and B sells for $9 per unit. Find the daily production levels of x and y that maximize profit per day b.A firm's production function is given by F(K,L) = KL. Each unit of K costs $1.2 and each unit of L costs $0.6. Each unit of output sells at $12. Find the optimal level of K and L that maximize profit.
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wouldnt it be -100 not 100 since 7-22=-15

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how did you get x=100 and y=300 at the end

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