Chapter 5.8, Problem 36ES

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,…

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,

Evaluate the following integrals, showing all your working

Consider the function f(x) = 2x³-4x2-x+1. (a) Without doing a sketch, show that the cubic equation has at least one solution on the interval [0,1]. Use a theorem discussed in lectures, or see Section 1.8 of Calculus (7th ed) by Stewart. Ensure that the conditions of the theorem are satisfied (include this in your solution) (b) Now, by sketching the cubic (by hand or by computer), you should see that there is, in fact, exactly one zero in the interval [0,1]. Use Newton's method to find this zero accurate to 3 decimal places. You should include a sketch of the cubic, Newton's iteration formula, and the list of iterates. [Use a computer if possible, e.g., a spreadsheet or MatLab.]

Evaluate the following integrals, showing all your working

Differentiate the following function

Differentiate the following function

A box with a square base and open top must have a volume of 13,500 cm³. Find the dimensions that minimise the amount of material used. Ensure you show your working to demonstrate that it is a minimum.