Suppose that you operate a company producing parts for cars that require steel as raw material. Your cost is predominantly human labor, which is $20 per hour for your workers, and steel itself which runs for $170 tons. Suppose that your revenue R is described as follows: R(h, s)= 200h^0.5, S^0.5, where( h )is hours of labor and( s) is a ton of steel. Your total budget is $25617.What is the maximum possible revenue you could earn?

Suppose that you operate a company producing parts for cars that require steel as raw material. Your cost is predominantly human labor, which is $20 per hour for your workers, and steel itself which runs for $170 tons. Suppose that your revenue R is described as follows: R(h, s)= 200h^0.5, S^0.5, where( h )is hours of labor and( s) is a ton of steel. Your total budget is $25617.What is the maximum possible revenue you could earn?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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