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13 Nov 2019
A production function is given by P-f(l, k) = 0.4812-0.0213 + 1.8k2-0.12k" where / and k are the amounts of labor and capital, respectively, and P is the quantity of output produced. Find the values of / and k that maximize P Solution: To find the critical points we need to solve the system P-0.96 I-006 l^2-0 and Pe 3.6 k-0.36 k^2-0 The first equation gives thatã«0 or 16 . From the second equation we get k 0 or k-10 This implies that there are four critical points (0,0), (0, 10), (16 ,0), and (16, 10) You are correct. Previous Tries Your receipt no. is 156-6138) To apply the second-derivative test we need to find the second partial derivatives of P We find that PI = 0.96-0.121 , Pk = 0 , and Pk = 3.6-0.72 k . Therefore D(l, k)-PoPa-Pa12-(0.96-0.121)(3.6-0.72 k) You are correct. Your receipt no. is 156-6132 Next we apply the second-derivative test to each critical point. At (0,0), we have that D(0,0) 3.456 > 0 and PI(0,0)-0.96 > 0 . Therefore there is a relative minimum at (0,0) r receiplt no. is 156-6132Previous Tries You are correct. Previous Tries Your receipt no. is 156-7798
A production function is given by P-f(l, k) = 0.4812-0.0213 + 1.8k2-0.12k" where / and k are the amounts of labor and capital, respectively, and P is the quantity of output produced. Find the values of / and k that maximize P Solution: To find the critical points we need to solve the system P-0.96 I-006 l^2-0 and Pe 3.6 k-0.36 k^2-0 The first equation gives thatã«0 or 16 . From the second equation we get k 0 or k-10 This implies that there are four critical points (0,0), (0, 10), (16 ,0), and (16, 10) You are correct. Previous Tries Your receipt no. is 156-6138) To apply the second-derivative test we need to find the second partial derivatives of P We find that PI = 0.96-0.121 , Pk = 0 , and Pk = 3.6-0.72 k . Therefore D(l, k)-PoPa-Pa12-(0.96-0.121)(3.6-0.72 k) You are correct. Your receipt no. is 156-6132 Next we apply the second-derivative test to each critical point. At (0,0), we have that D(0,0) 3.456 > 0 and PI(0,0)-0.96 > 0 . Therefore there is a relative minimum at (0,0) r receiplt no. is 156-6132Previous Tries You are correct. Previous Tries Your receipt no. is 156-7798
Jamar FerryLv2
5 May 2019