A company that produces skis has the Cobb-Douglas production function Q=f(x,y)=180x0.7y0.3 , where Q is the number of pairs of skis produced per month, x is the number of thousands of labor hours permonth and y is the value of the equipment in units of thousands of dollars. The company currently has a labor force of 3,000 labor hours per month and $50,000 of capital.(a) The current production level is 1256skis produced per month. (Round to an integer.)(b) The current marginal productivity of labor is 29350(Round to an integer.). This number means that, when the company has a labor force of 50X hours and per month and has $by approximatelyX worth of equipment, if the labor hours increase by 1,000 hours per month, and the value of equipment remains $ 50then the production increases293V pairs of skis produced per month.(c) The current marginal productivity of capital is(Round to an integer.). This number means that, when the company has a labor force ofhours and per month and has $worth of equipment, if the labor hours remains athours per month and the value of the equipment increases by one thousand dollars, then the production ---Select--- v byapproximatelypairs of skis produced per month.

The product function is given by, Q=fx,y=180x0.7y0.3 Here Q is the number of pairs of skis…

A company that produces skis has the Cobb-Douglas production function Q=f(x,y)=180x0.7y0.3 , where Q is the number of pairs of skis produced per month, x is the number of thousands of labor hours per month and y is the value of the equipment in units of thousands of dollars. The company currently has a labor force of 3,000 labor hours per month and $50,000 of capital. (a) The current production level is 1256 v skis produced per month. (Round to an integer.) v (Round to an integer.). This number means that, when the company has a labor force of 50 (b) The current marginal productivity of labor is 293 50 293 x worth of equipment, if the labor hours increase by 1,000 hours per month, and the value of equipment remains $ 50 v pairs of skis produced per month, X hours and per month and has $ x , then the production increases vv by approximate (c) The current marginal productivity of capital is (Round to an integer.). This number means that, when the company has a labor force of hours and per month and has $ worth of equipment, if the labor hours remains at hours per month and the value of the equipment increases by one thousand dollars, then the production -Select-- v by approximately pairs of skis produced per month.

A company that produces skis has the Cobb-Douglas production function Q=f(x,y)=180x0.7y0.3 , where Q is the number of pairs of skis produced per month, x is the number of thousands of labor hours per month and y is the value of the equipment in units of thousands of dollars. The company currently has a labor force of 3,000 labor hours per month and $50,000 of capital. (a) The current production level is 1256 v skis produced per month. (Round to an integer.) v (Round to an integer.). This number means that, when the company has a labor force of 50 (b) The current marginal productivity of labor is 293 50 293 x worth of equipment, if the labor hours increase by 1,000 hours per month, and the value of equipment remains $ 50 v pairs of skis produced per month, X hours and per month and has $ x , then the production increases vv by approximate (c) The current marginal productivity of capital is (Round to an integer.). This number means that, when the company has a labor force of hours and per month and has $ worth of equipment, if the labor hours remains at hours per month and the value of the equipment increases by one thousand dollars, then the production -Select-- v by approximately pairs of skis produced per month.

Algebra and Trigonometry (MindTap Course List)

4th Edition

ISBN:9781305071742

Author:James Stewart, Lothar Redlin, Saleem Watson

Publisher:James Stewart, Lothar Redlin, Saleem Watson

Chapter2: Functions

Section2.4: Average Rate Of Change Of A Function

Problem 4.2E: bThe average rate of change of the linear function f(x)=3x+5 between any two points is ________.

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