Question

Consider the following. f(h, k) = (32h3 + 15h2 − 10h + 47) · (43k +...

Consider the following.

f(h, k) = (32h3 + 15h2 − 10h + 47) · (43k + 15) when h = 4.2, k = 3.5, and Δk = 0.6

(a) Calculate the output associated with the given input values. (Round your answer to three decimal places.)

f(4.2, 3.5) =  436988.848



(b) Approximate the change needed in one input variable to compensate for the given change in the other input variable. (Round your answer to three decimal places.)
Δh =

Math   Calculus   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
2. Consider the following production functions, to be used in this week’s assignment: (A) F(L, K)...
2. Consider the following production functions, to be used in this week’s assignment: (A) F(L, K) = 20L^2 + 20K^2 (B) F(L, K) = [L^1/2 + K^1/2]^2 a (i) Neatly draw the Q = 2,000 isoquant for a firm with production function (A) given above, putting L on the horizontal axis and K on the vertical axis. As part of your answer, calculate three input bundles on this isoquant. (ii) Neatly draw the Q = 10 isoquant for a firm...
Consider a sample of 47 football​ games, where 27 of them were won by the home...
Consider a sample of 47 football​ games, where 27 of them were won by the home team. Use a 0.05 significance level to test the claim that the probability that the home team wins is greater than​ one-half. Identify the null and alternative hypotheses for this test. Choose the correct answer below. A. Upper H 0​: pequals0.5 Upper H 1​: pnot equals0.5 B. Upper H 0​: pequals0.5 Upper H 1​: pless than0.5 C. Upper H 0​: pgreater than0.5 Upper H...
Consider the following hypotheses. Upper H 0​: p=0.44 Upper H 1​: pnot =0.44 Given that p...
Consider the following hypotheses. Upper H 0​: p=0.44 Upper H 1​: pnot =0.44 Given that p overbar=0.35​, n=160​, and alpha=0.10​, answer the following questions. a. What conclusion should be​ drawn? b. Determine the​ p-value for this test. a. Determine the critical​ value(s) of the test statistic. z α= ​(Use a comma to separate answers as needed. Round to three decimal places as​ needed.)
Several years​ ago, 47​% of parents who had children in grades​ K-12 were satisfied with the...
Several years​ ago, 47​% of parents who had children in grades​ K-12 were satisfied with the quality of education the students receive. A recent poll asked 1 comma 155 parents who have children in grades​ K-12 if they were satisfied with the quality of education the students receive. Of the 1 comma 155 ​surveyed, 491 indicated that they were satisfied. Construct a 95​% confidence interval to assess whether this represents evidence that​ parents' attitudes toward the quality of education have...
Consider an economy described by the production function: Y = F(K, L) = K0.3L0.7. Assume that...
Consider an economy described by the production function: Y = F(K, L) = K0.3L0.7. Assume that the depreciation rate is 5 percent per year. Make a table showing steady-state capital per worker, output per worker, and consumption per worker for saving rates of 0 percent, 10 percent, 20 percent, 30 percent, and so on. Round your answers to two decimal places. (You might find it easiest to use a computer spreadsheet then transfer your answers to this table.) Steady State...
Consider the following production function: x = f(l,k) = Albkbwhere x is the output, l is...
Consider the following production function: x = f(l,k) = Albkbwhere x is the output, l is the labour input, k is the capital input, and A, b are positive constants. (a) Set up the cost minimization problem and solve for the first order conditions using the Lagrange Method. Let w be the wage rate and r the rental rate of capital. (b) Using your answer in (a), find how much labour and capital would the firm use to produce x...
Consider the following bivariate data. Point A B C D E F G H I J...
Consider the following bivariate data. Point A B C D E F G H I J x 0 1 1 2 3 4 5 6 6 7 y 5 5 8 3 4 1 2 0 1 1 (a) Construct a scatter diagram of the given bivariate data. (Do this on paper. Your instructor may ask you to turn in this work.) (b) Calculate the covariance. (Give your answer correct to two decimal places.) (c) Calculate sx and sy. (Give...
Consider the following bivariate data. Point A B C D E F G H I J...
Consider the following bivariate data. Point A B C D E F G H I J x 4 5 2 6 7 6 2 5 6 5 y 2 6 4 7 7 0 0 1 5 2 (a) Construct a scatter diagram of the given bivariate data. (Do this on paper. Your instructor may ask you to turn in this work.) (b) Calculate the covariance. (Give your answer correct to two decimal places.) (c) Calculate sx and sy. (Give...
Consider the following bivariate data. Point A B C D E F G H I J...
Consider the following bivariate data. Point A B C D E F G H I J x 0 1 1 2 3 4 5 6 6 7 y 5 5 6 5 4 1 2 0 1 1 (a) Construct a scatter diagram of the given bivariate data. (Do this on paper. Your instructor may ask you to turn in this work.) (b) Calculate the covariance. (Give your answer correct to two decimal places.) (c) Calculate sx and sy. (Give...
Find the cost minimizing input combinations in the following problems: - f(k, ℓ) = 4k^3 ℓ^2...
Find the cost minimizing input combinations in the following problems: - f(k, ℓ) = 4k^3 ℓ^2 , r = 2, w = 1, q = 100 - f(k, ℓ) = min{2k, 3ℓ}, r = 2, w = 3, q = 10 2. In the above question, you found the cost minimizing input combination that produces 100 units of output. Now find the cost minimizing input combination for any positive quantity of output q to obtain the firm’s conditional factor demand...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT