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21. ALLOC Suppose $120,000 is available for labor and equipment, the output of a certain factory is How should the money be allocated between NDS When x thousand dollars are spent on labor and y thousand on y Q units, where Q(x, y) = 60x'/3,y/3 Suppose $120,000 is available for labor and equipment. a. How should the money be allocated between labor and equipment to generate the largest possible output?

21. ALLOC Suppose $120,000 is available for labor and equipment, the output of a certain factory is How should the money be allocated between NDS When x thousand dollars are spent on labor and y thousand on y Q units, where Q(x, y) = 60x'/3,y/3 Suppose $120,000 is available for labor and equipment. a. How should the money be allocated between labor and equipment to generate the largest possible output?

Linear Algebra: A Modern Introduction
Linear Algebra: A Modern Introduction
4th Edition
ISBN:9781285463247
Author:David Poole
Publisher:David Poole
Chapter2: Systems Of Linear Equations
Section2.4: Applications
Problem 27EQ
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How do you solve problem 21a? Show steps clearly and focus on solving the system equation

a. How should the money be allocated between Suppose $120,000 is available for labor and equipment, the output of a certain factory is dollars are spent on labor and y thousand on labor and equipment to generate the largest ALLOCATION OF FUNDS When x thousand of dk c. Your answer to part (b) 21. method for solving the Solve the problem usin 25. UTILITY A consumer ha Q units, where Q(x, y) = 60x/3,2/ commodities, the first of and the second $5 per un equipment. How should the money be allocated between utility derived by the cor first commodity and y un by U(x, y) = 100x-2y". a. How many units of e %3D possible output? b Use the Lagrange multiplier A to estimate the change in the maximum output of the factory that will result if the money available for labor and equipment is increased to $121,000. consumer buy to ma: b. Compute the Lagram in economic terms. ( utility, A is called th money.) 100 10 M
Transcribed Image Text:a. How should the money be allocated between Suppose $120,000 is available for labor and equipment, the output of a certain factory is dollars are spent on labor and y thousand on labor and equipment to generate the largest ALLOCATION OF FUNDS When x thousand of dk c. Your answer to part (b) 21. method for solving the Solve the problem usin 25. UTILITY A consumer ha Q units, where Q(x, y) = 60x/3,2/ commodities, the first of and the second $5 per un equipment. How should the money be allocated between utility derived by the cor first commodity and y un by U(x, y) = 100x-2y". a. How many units of e %3D possible output? b Use the Lagrange multiplier A to estimate the change in the maximum output of the factory that will result if the money available for labor and equipment is increased to $121,000. consumer buy to ma: b. Compute the Lagram in economic terms. ( utility, A is called th money.) 100 10 M
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