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Suppose that a company's production for Q units of its product is given by the Cobb-Douglas production function shown below, where K is dollars of capital investment and L is labor hours. Q = 30K¹/4L3/4 (a) Find Q if K = $4,096 and L = 1296 hours. Q = (b) If a capital investment is held at $10,000, graph Q as a function of L. 7000 7000 6000 6000 5000 5000 4000 4000 Q 3000 3000 2000 2000 1000 1000 0 10 10 30 50 60 30 40 50 60 L L O O 7000 7000 6000 6000 5000 5000 4000 4000 KK Q Q 3000 3000 2000 2000 1000 1000 0 0 10 30 40 50 60 10 20 50 60 30 L L O O Q 0 20 20 20 40 40

Suppose that a company's production for Q units of its product is given by the Cobb-Douglas production function shown below, where K is dollars of capital investment and L is labor hours. Q = 30K¹/4L3/4 (a) Find Q if K = $4,096 and L = 1296 hours. Q = (b) If a capital investment is held at $10,000, graph Q as a function of L. 7000 7000 6000 6000 5000 5000 4000 4000 Q 3000 3000 2000 2000 1000 1000 0 10 10 30 50 60 30 40 50 60 L L O O 7000 7000 6000 6000 5000 5000 4000 4000 KK Q Q 3000 3000 2000 2000 1000 1000 0 0 10 30 40 50 60 10 20 50 60 30 L L O O Q 0 20 20 20 40 40

Algebra for College Students
Algebra for College Students
10th Edition
ISBN:9781285195780
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Jerome E. Kaufmann, Karen L. Schwitters
Chapter9: Polynomial And Rational Functions
Section9.4: Graphing Polynomial Functions
Problem 44PS: A company determines that its weekly profit from manufacturing and selling x units of a certain item...
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Suppose that a company's production for Q units of its product is given by the Cobb-Douglas production function shown below, where K is dollars of capital investment and L is labor hours. Q = 30K¹/4L3/4 (a) Find Q if K = $4,096 and L=1296 hours. Q = (b) If a capital investment is held at $10,000, graph Q as a function of L. 7000 7000 6000 6000 5000 5000 4000 4000 Q 3000 3000 2000 2000 1000 1000 60 30 40 L Q Q 0 7000 6000 5000 4000 3000 2000 1000 0 10 10 20 20 30 L 40 50 50 60 60 Q 0 7000 6000 5000 4000 3000 2000 1000 0 10 10 20 20 30 L 30 L 40 40 50 50 60
Transcribed Image Text:Suppose that a company's production for Q units of its product is given by the Cobb-Douglas production function shown below, where K is dollars of capital investment and L is labor hours. Q = 30K¹/4L3/4 (a) Find Q if K = $4,096 and L=1296 hours. Q = (b) If a capital investment is held at $10,000, graph Q as a function of L. 7000 7000 6000 6000 5000 5000 4000 4000 Q 3000 3000 2000 2000 1000 1000 60 30 40 L Q Q 0 7000 6000 5000 4000 3000 2000 1000 0 10 10 20 20 30 L 40 50 50 60 60 Q 0 7000 6000 5000 4000 3000 2000 1000 0 10 10 20 20 30 L 30 L 40 40 50 50 60
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