Suppose that the production function for a product is given by z=x´In(xy) , where x is the labor hours per worker, and y is the capital expenditure (in hundreds of thousands of dollars). When the labor hours per worker are 8, and the capital expenditure is 2 (hundreds of thousands of dollars), (а) Find the find marginal productivity of y when x = 8 and y = 2 (b) When x = 8 and y =2, use your answer in part (a) to calculate the approximate change in z if y increases 2 additional units while x remains unchanged. Show your reasoning

Q: The average cost function is given as A(q) = 125/q+ q2/16 -4, where q is the firm's output. 1.…

A: Given the average cost function is Aq=125q+q216−4 (1) We have to determine the level of output for…

Q: b) If the marginal revenue function for a manufacturer's product is dr = 2000 – 204 – 3q² dq Find…

A:

Q: A shopper buys cat food in bags of 3 lbs. Her cat eats 3434 lb each week. How many weeks does one…

A: Given that A shopper buys cat food in bags of 3 lbs. Her cat eats 3/4 lb each week

Q: The demand function for a certain product is given by D(p) = O A. D'(p) = 2,790 +48p (12p+15)² -…

A:

Q: the Viling Boat's 34-ft notes the number of yachts and p is the prie Find the revenue function R(z)…

A: In this question, the marginal revenue is obtained from the revenue function using a derivative.…

Q: The population of a community is known to increase at a rate proportional to the number of people…

A:

Q: Suppose a product's revenue function is given by R(q) = -3q² +800q, where R(q) is in dollars and qis…

A:

Q: Suppose that x represents the number of units that are produced and sold for a product. Suppose that…

A: Given  R(x)=23x c(x)=50+15x+120x2   a)The profit function: p(x)=R(x)-c(x) p(x)=23x-50-15x-120x2…