Production function: q= 3.2f+0.2fl+1.6l f is the amount of fertilizer l is the hours of labor employed Total cost: C=1.4+0.2f2+0.4l2 The price of mango is $2 per unit What is the optimal amount of fertilizer?
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Production function: q= 3.2f+0.2fl+1.6l
f is the amount of fertilizer
l is the hours of labor employed
Total cost: C=1.4+0.2f2+0.4l2
The price of mango is $2 per unit
What is the optimal amount of fertilizer?
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