Matched Problem 4 The productivity of an airplane–manufacturing company is given approximately by the Cobb–Douglas production function f ( x , y ) = 40 x 0.3 y 0.7 (A) Find f x ( x, y ) and f y ( x, y ). (B) If the company is currently using 1.500 units of labor and 4,500 units of capital, find the marginal productivity of labor and the marginal productivity of capital. (C) For the greatest increase in productivity, should the management of the company encourage increased use of labor or increased use of capital?
Matched Problem 4 The productivity of an airplane–manufacturing company is given approximately by the Cobb–Douglas production function f ( x , y ) = 40 x 0.3 y 0.7 (A) Find f x ( x, y ) and f y ( x, y ). (B) If the company is currently using 1.500 units of labor and 4,500 units of capital, find the marginal productivity of labor and the marginal productivity of capital. (C) For the greatest increase in productivity, should the management of the company encourage increased use of labor or increased use of capital?
Solution Summary: The author calculates the partial derivative of the function f(x,y)=12x-0.7y
Matched Problem 4The productivity of an airplane–manufacturing company is given approximately by the Cobb–Douglas production function
f
(
x
,
y
)
=
40
x
0.3
y
0.7
(A) Find fx(x, y) and fy(x, y).
(B) If the company is currently using 1.500 units of labor and 4,500 units of capital, find the marginal productivity of labor and the marginal productivity of capital.
(C) For the greatest increase in productivity, should the management of the company encourage increased use of labor or increased use of capital?
During busy political seasons, many opinion polls are conducted. In apresidential race, how do you think the participants in polls are generally selected?Discuss any issues regarding simple random, stratified, systematic, cluster, andconvenience sampling in these polls. What about other types of polls, besides political?
No chatgpt pls will upvote
Which degenerate conic is formed when a double cone is sliced through the apex by a plane parallel to the slant edge of the cone?
Chapter 7 Solutions
Calculus for Business, Economics, Life Sciences, and Social Sciences (14th Edition)
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