Discrete Mathematics
5th Edition
ISBN: 9780134689562
Author: Dossey, John A.
Publisher: Pearson,
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Chapter A, Problem 8SE
To determine
Whether the sentence “
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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,…
Chapter A Solutions
Discrete Mathematics
Ch. A.1 - Prob. 1ECh. A.1 - Prob. 2ECh. A.1 - Prob. 3ECh. A.1 - Prob. 4ECh. A.1 - Prob. 5ECh. A.1 - Prob. 6ECh. A.1 - Prob. 7ECh. A.1 - Prob. 8ECh. A.1 - Prob. 9ECh. A.1 - Prob. 10E
Ch. A.1 - Prob. 11ECh. A.1 - Prob. 12ECh. A.1 - Prob. 13ECh. A.1 - Prob. 14ECh. A.1 - Prob. 15ECh. A.1 - Prob. 16ECh. A.1 - Write the negations of the statements in Exercises...Ch. A.1 - Prob. 18ECh. A.1 - Prob. 19ECh. A.1 - Prob. 20ECh. A.1 - Prob. 21ECh. A.1 - Prob. 22ECh. A.1 - Prob. 23ECh. A.1 - Prob. 24ECh. A.1 - Prob. 25ECh. A.1 - Prob. 26ECh. A.1 - Prob. 27ECh. A.1 - Prob. 28ECh. A.1 - Prob. 29ECh. A.1 - Prob. 30ECh. A.1 - Prob. 31ECh. A.1 - Prob. 32ECh. A.1 - Prob. 33ECh. A.1 - Prob. 34ECh. A.1 - Prob. 35ECh. A.1 - Prob. 36ECh. A.2 - Prob. 1ECh. A.2 - In Exercises 1–10, construct a truth table for...Ch. A.2 - In Exercises 1–10, construct a truth table for...Ch. A.2 - Prob. 4ECh. A.2 - Prob. 5ECh. A.2 - Prob. 6ECh. A.2 - Prob. 7ECh. A.2 - Prob. 8ECh. A.2 - Prob. 9ECh. A.2 - Prob. 10ECh. A.2 - Prob. 11ECh. A.2 - Prob. 12ECh. A.2 - Prob. 13ECh. A.2 - Prob. 14ECh. A.2 - Prob. 15ECh. A.2 - Prob. 16ECh. A.2 - Prob. 17ECh. A.2 - Prob. 18ECh. A.2 - Prob. 19ECh. A.2 - Prob. 20ECh. A.2 - Prob. 21ECh. A.2 - Prob. 22ECh. A.2 - Prob. 23ECh. A.2 - Prob. 24ECh. A.2 - Prob. 25ECh. A.2 - Prob. 26ECh. A.2 - Prob. 27ECh. A.2 - Prob. 28ECh. A.2 - Prob. 29ECh. A.2 - The statement [(p → q) ∧ ~q] → ~p is called modus...Ch. A.2 - Prob. 31ECh. A.2 - Prob. 32ECh. A.2 - Prob. 33ECh. A.2 - Prob. 34ECh. A.3 - Prove that ~(p ∧ ~q) is logically equivalent to p...Ch. A.3 - Prove that the law of syllogism is a tautology.
Ch. A.3 - Prove that if m is an integer and m2 is odd, then...Ch. A.3 - Prove, as in Example A.14, that there is no...Ch. A.3 - Prove the theorems in Exercises 5–12. Assume that...Ch. A.3 - Prove the theorems in Exercises 5–12. Assume that...Ch. A.3 - Prove the theorems in Exercises 5–12. Assume that...Ch. A.3 - Prove the theorems in Exercises 5–12. Assume that...Ch. A.3 - Prove the theorems in Exercises 5-12. Assume that...Ch. A.3 - Prove the theorems in Exercises 5–12. Assume that...Ch. A.3 - Prove the theorems in Exercises 5-12. Assume that...Ch. A.3 - Prove the theorems in Exercises 5-12. Assume that...Ch. A.3 - Prove or disprove the results in Exercises 13–22....Ch. A.3 - Prove or disprove the results in Exercises 13–22....Ch. A.3 - Prove or disprove the results in Exercises 13–22....Ch. A.3 - Prove or disprove the results in Exercises 13–22....Ch. A.3 - Prove or disprove the results in Exercises 13–22....Ch. A.3 - Prove or disprove the results in Exercises 13-22....Ch. A.3 - Prove or disprove the results in Exercises 13–22....Ch. A.3 - Prove or disprove the results in Exercises 13-22....Ch. A.3 - Prob. 21ECh. A.3 - Prob. 22ECh. A.3 - Prob. 23ECh. A.3 - Prob. 24ECh. A.3 - Prob. 25ECh. A.3 - Prob. 26ECh. A.3 - Prob. 27ECh. A.3 - Prob. 28ECh. A - Prob. 1SECh. A - Prob. 2SECh. A - Prob. 3SECh. A - Prob. 4SECh. A - Prob. 5SECh. A - Prob. 6SECh. A - Prob. 7SECh. A - Prob. 8SECh. A - Prob. 9SECh. A - Prob. 10SECh. A - Prob. 11SECh. A - Prob. 12SECh. A - Prob. 13SECh. A - Prob. 14SECh. A - Prob. 15SECh. A - Prob. 16SECh. A - Prob. 17SECh. A - Prob. 18SECh. A - Prob. 19SECh. A - Prob. 20SECh. A - Prob. 21SECh. A - For each statement in Exercises 21–24, write (a)...Ch. A - Prob. 23SECh. A - Prob. 24SECh. A - Prob. 25SECh. A - Prob. 26SECh. A - Prob. 27SECh. A - Prob. 28SECh. A - Prob. 29SECh. A - Prob. 30SECh. A - Prob. 31SECh. A - Prob. 32SECh. A - Prob. 33SECh. A - Prob. 34SECh. A - Prob. 35SECh. A - Prob. 36SECh. A - Prob. 37SECh. A - Prob. 38SECh. A - Prob. 39SECh. A - Prob. 40SECh. A - Prob. 41SECh. A - Prob. 42SECh. A - Prob. 43SECh. A - Prob. 44SE
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