Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)
14th Edition
ISBN: 9781305506381
Author: James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Publisher: Cengage Learning
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Question
Chapter 7, Problem 5E
a)
To determine
To find: The value of marginal product.
b)
To determine
To find: The value of average product function.
c)
To determine
To find: The value of L that maximize Q.
d)
To determine
To find: The value of L that maximize MP.
e)
To determine
To find: The value of L that maximize AP.
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subject to X1
X2
Maximize dollars of interest earned = 0.07X1+0.11X2+0.19X3+0.15X4
≤ 1,000,000
<2,500,000
X3
≤ 1,500,000
X4
≤ 1,800,000
X3 +
XA
≥
0.55 (X1+X2+X3+X4)
X1
≥
0.15 (X1+X2+X3+X4)
X1
+ X2 X3 +
XA
<
5,000,000
X1, X2, X3, X4 ≥
0
not use ai
Chapter 7 Solutions
Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)
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