Your automobile assembly plant has a Cobb-Douglas production function given by q = x0.4,0.6, where q is the number of automobiles it produces per year, x is the number of employees, and y is the daily operating budget (in dollars). Annual operating costs amount to an average of $23,000 per employee plus the operating budget of $365y. Assume that you wish to produce 5,000 automobiles per year at a minimum cost. How many employees should you hire? (Round your answer to the nearest employee.) X= employees

Your automobile assembly plant has a Cobb-Douglas production function given by q = x0.4,0.6, where q is the number of automobiles it produces per year, x is the number of employees, and y is the daily operating budget (in dollars). Annual operating costs amount to an average of $23,000 per employee plus the operating budget of $365y. Assume that you wish to produce 5,000 automobiles per year at a minimum cost. How many employees should you hire? (Round your answer to the nearest employee.) X= employees

Algebra: Structure And Method, Book 1

(REV)00th Edition

ISBN:9780395977224

Author:Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole

Publisher:Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole

Chapter12: Quadratic Functions

Section12.8: Joint And Combined Variation

Problem 8P

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Question

Please give me answers in 5min I will give you like sure

Your automobile assembly plant has a Cobb-Douglas production function given by
9 = x0.4 0.6
where q is the number of automobiles it produces per year, x is the number of employees, and y is the daily operating budget (in dollars). Annual operating costs amount to an average of $23,000 per
employee plus the operating budget of $365y. Assume that you wish to produce 5,000 automobiles per year at a minimum cost. How many employees should you hire? (Round your answer to the
nearest employee.)
X=
employees

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