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1. A. The Cobb-Douglas production function, f(x,y)=40x^1/4y^3/4, describes the production of a company for which each...

1. A. The Cobb-Douglas production function, f(x,y)=40x^1/4y^3/4, describes the production of a company for which each unit of labor costs $100 and each unit of capital costs $125. For a new project, the company has allocated $60,000 for labor and capital. Find the amount of money that the company should allocate to labor and capital to maximize production.

B. The marketing department of a business has determined that the demand for a product can be modeled by p=(50/(square root of x)). The cost of producing x units is given by C=0.50x+500. What price will yield a maximum profit?

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