Question

find the minimum cost of producing 50,000 units of a product, where X is the number...

find the minimum cost of producing 50,000 units of a product, where X is the number of units labor ( at 84$ per unit) and y is the number of units of capital ( at 72$ per unit)

P(x) = 100(x^0.6)(y^0.4)
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
If the total cost function for a product is C(x) = 9(x + 3)^3 dollars, where...
If the total cost function for a product is C(x) = 9(x + 3)^3 dollars, where x represents the number of hundreds of units produced, producing how many units will minimize average cost? a) x= ? b) Find the minimum average cost per hundred units.
Find the number of units x that produces the minimum average cost per unit C in...
Find the number of units x that produces the minimum average cost per unit C in the given equation. C = 0.08x3 + 55x2 + 1395
Production The production function for a company is given by f(x, y) = 100x0.6y0.4 where x...
Production The production function for a company is given by f(x, y) = 100x0.6y0.4 where x is the number of units of labor (at $72 per unit) and y is the number of units of capital (at $60 per unit). The total cost for labor and capital cannot exceed $100,000. (a) Find the maximum production level for this manufacturer. (Round your answer to the nearest integer.)   (b) Find the marginal productivity of money. (Round your answer to three decimal places.)...
If the total cost function for a product is C(x) = 8(x + 5)3 dollars, where...
If the total cost function for a product is C(x) = 8(x + 5)3 dollars, where x represents the number of hundreds of units produced, producing how many units will minimize average cost? x = hundred units Find the minimum average cost. (Round your answer to two decimal places.) dollars per hundred units
5) The cost per unit of producing a product is 60 + 0.2x dollars, where x...
5) The cost per unit of producing a product is 60 + 0.2x dollars, where x represents the number of units produced per week. The equilibrium price determined by a competitive market is $220. How many units should the firm produce and sell each week to maximize its profit? b) What is the maximum profit?
The cost of producing x units of a product is modeled by the following. C =...
The cost of producing x units of a product is modeled by the following. C = 120 + 35x − 160 ln(x), x ≥ 1 (a) Find the average cost function C (b) Find the minimum average cost analytically. Use a graphing utility to confirm your result. (Round your answer to two decimal places.)
The cost of producing x units of a product is modeled by the following. C =...
The cost of producing x units of a product is modeled by the following. C = 130 + 35x − 150 ln(x),    x ≥ 1 (a) Find the average cost function C. C = (b) Find the minimum average cost analytically. Use a graphing utility to confirm your result. (Round your answer to two decimal places.)
The total cost of producing x units of a product is estimated by the cost function...
The total cost of producing x units of a product is estimated by the cost function C = f(x) = 60x + 0.2x2 + 25,000 where C equals total cost measured in dollars.   a) This function is an example of what class of functions? b) What is the cost associated with producing 25,000 units? c) What is the cost associated with producing zero units? What term might be used to describe this cost?
The total cost of producing 1 unit of a product is given by C(x, y) =...
The total cost of producing 1 unit of a product is given by C(x, y) = 30 + 0.2x2 + 50y − xy     dollars where x is the hourly labor rate and y is the cost per pound of raw materials. The current hourly rate is $29, and the raw materials cost $2 per pound. (a) How will an increase of $1 per pound for the raw materials affect the total cost? The total cost will  ---Select--- increase decrease by $ ????...
The production function for a company is given by f(x, y) = 100x0.6y0.4 where x is...
The production function for a company is given by f(x, y) = 100x0.6y0.4 where x is the number of units of labor (at $48 per unit) and y is the number of units of capital (at $36 per unit). The total cost for labor and capital cannot exceed $100,000. (a) Find the maximum production level for this manufacturer. (Round your answer to the nearest integer.) (b) Find the marginal productivity of money. (Round your answer to three decimal places.) (c)...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT