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Question: A certain country's production is described by the function
f(x, y) = 60x1/3y2/3
When x units of labor and y units of capital are used.
a. What is the marginal productivity of labor and the marginal productivity of capital when the amounts expended on labor and capital are 125 units and 8 units, respectively?
b. Should the government encourage capital investment rather than increased expenditure on labor at this time in order to increase the country's productivity?
Use Jensen's inequality to show that a‾ (1ex? ) ≥ a‾x. Explain the inequality in (c) by general reasoning. Show that the inequalities in (b) and (c) are equalities at 0 interest.
the speed of a freight train is 22mph slower than that of a passenger train. The freight train travels 250 mi in the same time it takes the passenger train to travel 480 mi. Find the speed of the passenger train.
Write the mathematical formulation of the problem. Solve the problem graphically and explain the optimal allocation of investment fund to the two investments.
Prove that f(x) is continuous at every irrational point and discontinuous at every rational point. Show that f is integrable on [0,1]
the length of a new rectangular playing field is 7 yards longer than quadruple the width. If the perimeter of the rectangular playing field is 514 yards, what are the dimensions?
How many cars will it rent at this price - How often should they place an order? (Round your answer to one decimal place.)
project overviewin this final part of your project you will cover step 4 of the statistical analysis process -
Suppose the supply and price for a prescription are related by P=.0015q +1 where p is the price in dollars of a 30 day prescribtion if the demand is related to price by P= 0025q + 64.36. What is the equilibrium quantity and price.
what is the magnitude of the average acceleration of the ball during this time interval? (Note: 1 ms = 10-3 s.)
Consider a network of l computers R1, R2, ...,Rl in which each computer is directly connected via a communication link to each other.
A time standard was set at 0.20 hour per unit based on the 50th unit produced. If the task has a 90% learning curve what would be the expected time of the 100th, 200th and 400th unit?
Write down 2 equations to compute a and P, one when t=2 and the other when t= 6.
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