Productivity of a Country The productivity of a country in Western Europe is given by the function f(x, y) = 40x4/5y1/5 when x units of labor and y units of capital are used. (a) What are the marginal productivity of labor and the marginal productivity of capital when the amounts expended on labor and capital are 1024 units and 32 units, respectively? (Round your answers to two decimal places.) labor units capital units (b) Should the government encourage capital investment rather then increased expenditure on labor at this time in order to increase the country's productivity? O Yes O No
Productivity of a Country The productivity of a country in Western Europe is given by the function f(x, y) = 40x4/5y1/5 when x units of labor and y units of capital are used. (a) What are the marginal productivity of labor and the marginal productivity of capital when the amounts expended on labor and capital are 1024 units and 32 units, respectively? (Round your answers to two decimal places.) labor units capital units (b) Should the government encourage capital investment rather then increased expenditure on labor at this time in order to increase the country's productivity? O Yes O No
Functions and Change: A Modeling Approach to College Algebra (MindTap Course List)
6th Edition
ISBN:9781337111348
Author:Bruce Crauder, Benny Evans, Alan Noell
Publisher:Bruce Crauder, Benny Evans, Alan Noell
Chapter2: Graphical And Tabular Analysis
Section2.6: Optimization
Problem 11E: Maximum Sales Growth This is a continuation of Exercise 10. In this exercise, we determine how the...
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