The number of oil changes per hour at Quick Lube is described by the following short-term production function: Q=10L−0.5L2   If oil changes (Q) sell for $20 each and labor (L) costs $40 per hour (wage), what is the optimal number of units of labor to hire per hour? How many oil changes will be completed?

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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The number of oil changes per hour at Quick Lube is described by the following short-term production function:

Q=10L−0.5L2  

If oil changes (Q) sell for $20 each and labor (L) costs $40 per hour (wage), what is the optimal number of units of labor to hire per hour? How many oil changes will be completed?  

 

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