Chapter 4.2, Problem 53E

A firm manufactures a commodity at two different factories, Factory X and Factory Y. The total cost (in dollars) of manufacturing depends on the quantities, and y produced at each factory, respectively, and is expressed by the joint cost function: C(x, y) = x² + xy +4y²+400 A) If the company's objective is to produce 1,900 units per month while minimizing the total monthly cost of production, how many units should be produced at each factory? (Round your answer to whole units, i.e. no decimal places.) To minimize costs, the company should produce: units at Factory X and units at Factory Y B) For this combination of units, their minimal costs will be enter any commas in your answer.) Question Help: Video dollars. (Do not

use Lagrange multipliers to solve

Suppose a Cobb-Douglas Production function is given by the following: P(L,K)=80L0.75 K-0.25 where L is units of labor, K is units of capital, and P(L, K) is total units that can be produced with this labor/capital combination. Suppose each unit of labor costs $400 and each unit of capital costs $1,600. Further suppose a total of $384,000 is available to be invested in labor and capital (combined). A) How many units of labor and capital should be "purchased" to maximize production subject to your budgetary constraint? Units of labor, L = Units of capital, K = B) What is the maximum number of units of production under the given budgetary conditions? (Round your answer to the nearest whole unit.) Max production = units

Suppose a Cobb-Douglas Production function is given by the function: P(L, K) = 7L0.0 K0.4 Furthemore, the cost function for a facility is given by the function: C(L, K) = 100L +400K Suppose the monthly production goal of this facility is to produce 15,000 items. In this problem, we will assume L represents units of labor invested and K represents units of capital invested, and that you can invest in tenths of units for each of these. What allocation of labor and capital will minimize total production Costs? Units of Labor L = Units of Capital K = (Show your answer is exactly 1 decimal place) (Show your answer is exactly 1 decimal place) Also, what is the minimal cost to produce 15,000 units? (Use your rounded values for L and K from above to answer this question.) The minimal cost to produce 15,000 units is $ Hint: 1. Your constraint equation involves the Cobb Douglas Production function, not the Cost function. 2. When finding a relationship between L and K in your system of equations,…

1. Give a subset that satisfies all the following properties simultaneously: Subspace Convex set Affine set Balanced set Symmetric set Hyperspace Hyperplane 2. Give a subset that satisfies some of the conditions mentioned in (1) but not all, with examples. 3. Provide a mathematical example (not just an explanation) of the union of two balanced sets that is not balanced. 4. What is the precise mathematical condition for the union of two hyperspaces to also be a hyperspace? Provide a proof. edited 9:11

Find the absolute maximum and minimum of f(x, y) = x + y within the domain x² + y² ≤ 4. Please show your answers to at least 4 decimal places. Enter DNE if the value does not exist. 1. Absolute minimum of f(x, y) is

Suppose that one factory inputs its goods from two different plants, A and B, with different costs, 3 and 7 each respective. And suppose the price function in the market is decided as p(x, y) = 100 - x - y where I and y are the demand functions and 0 < x,y. Then as x = y = the factory can attain the maximum profit,

0|0|0|0 - Consider the time series X₁ and Y₁ = (I – B)² (I – B³)Xt. What transformations were performed on Xt to obtain Yt? seasonal difference of order 2 simple difference of order 5 seasonal difference of order 1 seasonal difference of order 5 simple difference of order 2

Evaluate the following integrals, showing all your working