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CalculusCalculus: An Applied Approach (MindTap Course List)10th Edition

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Chapter 7.3, Problem 4CP
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Calculus: An Applied Approach (Min...

10th Edition
Ron Larson
ISBN: 9781305860919

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Problem 1E
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Calculus: An Applied Approach (Min...

10th Edition
Ron Larson
ISBN: 9781305860919
Textbook Problem
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Checkpoint 4 Worked-out solution available at LarsonAppliedCalculus.com

Use the Cobb-Douglas production function in Example 4 to find the production levels when x = 1500 and y = 1000 and when x = 1000 and y = 1500. Use your results to determine which variable has a greater influence on production.

To determine

To calculate: The production levels for the model f(x,y)=100  x0.6 y0.4 where x is the labor and y is the capital at x=1500, y=1000 and x=1000, y=1500 and also estimate the variable that has greater influence on production.

Explanation

Given Information:

The model for the production levels is f(x,y)=100  x0.6 y0.4 and the variables are x=1500, y=1000 and x=1000, y=1500.

Calculation:

Consider the model for the production levels, f(x,y)=100  x0.6 y0.4

For first variable:

Substitute 1500 for x and 1000 for y.

f(1500,1000)=100(1500)0.6(1000)0.4≈127542.4

For first variable:

Substitute 1000 for x and 1500 for y.

f(1000,1500)=f(1000,1500)=100(1000)0

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Sect-7.1 P-1CPSect-7.1 P-2CPSect-7.1 P-3CPSect-7.1 P-4CPSect-7.1 P-5CPSect-7.1 P-6CPSect-7.1 P-7CPSect-7.1 P-1SWUSect-7.1 P-2SWUSect-7.1 P-3SWU
Sect-7.1 P-4SWUSect-7.1 P-5SWUSect-7.1 P-6SWUSect-7.1 P-7SWUSect-7.1 P-8SWUSect-7.1 P-1ESect-7.1 P-2ESect-7.1 P-3ESect-7.1 P-4ESect-7.1 P-5ESect-7.1 P-6ESect-7.1 P-7ESect-7.1 P-8ESect-7.1 P-9ESect-7.1 P-10ESect-7.1 P-11ESect-7.1 P-12ESect-7.1 P-13ESect-7.1 P-14ESect-7.1 P-15ESect-7.1 P-16ESect-7.1 P-17ESect-7.1 P-18ESect-7.1 P-19ESect-7.1 P-20ESect-7.1 P-21ESect-7.1 P-22ESect-7.1 P-23ESect-7.1 P-24ESect-7.1 P-25ESect-7.1 P-26ESect-7.1 P-27ESect-7.1 P-28ESect-7.1 P-29ESect-7.1 P-30ESect-7.1 P-31ESect-7.1 P-32ESect-7.1 P-33ESect-7.1 P-34ESect-7.1 P-35ESect-7.1 P-36ESect-7.1 P-37ESect-7.1 P-38ESect-7.1 P-39ESect-7.1 P-40ESect-7.1 P-41ESect-7.1 P-42ESect-7.1 P-43ESect-7.1 P-44ESect-7.2 P-1CPSect-7.2 P-2CPSect-7.2 P-3CPSect-7.2 P-1SWUSect-7.2 P-2SWUSect-7.2 P-3SWUSect-7.2 P-4SWUSect-7.2 P-5SWUSect-7.2 P-6SWUSect-7.2 P-1ESect-7.2 P-2ESect-7.2 P-3ESect-7.2 P-4ESect-7.2 P-5ESect-7.2 P-6ESect-7.2 P-7ESect-7.2 P-8ESect-7.2 P-9ESect-7.2 P-10ESect-7.2 P-11ESect-7.2 P-12ESect-7.2 P-13ESect-7.2 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In Exercises 71 to 82, determine whether each of the sets is a well-defined set. The set of good foods

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Find the most general antiderivative of the function. (Check your answer by differentiation.) f(x)=152x

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Figure 17 shows a walkway with a handrail. Angle is the angle between the walkway and the horizontal. Use Figu...

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Solve each system of equations: 3x5y=32x3y=1

Elementary Technical Mathematics

Suppose that G and G are abelian groups such that G=H1H2 and G=H1H2. If H1 is isomorphic to H1 and H2 is isomor...

Elements Of Modern Algebra

Use Table 12-2 to calculate the present value of the following annuities due. Annuity Payment Time Nominal Inte...

Contemporary Mathematics for Business & Consumers

In Exercises 1 to 6, state the hypothesis H and the conclusion C for each statement. Every regular polygon has ...

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Using a p-Series In Exercises 33-38, use Theorem 9.11 to determine the convergence or divergence of the p-serie...

Calculus: Early Transcendental Functions (MindTap Course List)

Eulers Method Compare the values of the approximations in Exercises 7981 with the values given by the exact sol...

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In the figure, a square is inscribed in a circle. If each side of the square measures 42 in., find an expressio...

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In Exercises 918, indicate whether the matrix is in row-reduced form. [0110|35]

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Maximum Length A hallway of width 6 feet meets a hallway of width 9 feet at right angles. Find the length of th...

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The absolute maximum of f(x, y) = 12x − 8y subject to x2 + 2y2 = 11 occurs at: (3, −1) (−3, 1)

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True or False: If f(c) = 0, then c is a point of inflection for f.

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Finding Higher-Order Partial DerivativesIn Exercises 9194, show that the mixed partial derivatives fxyy,fyxy, a...

Multivariable Calculus

consider the following hypothesis test: H0: 20 Ha: 20 A sample of 50 provided a sample mean of 19.4. The po...

Statistics for Business & Economics, Revised (MindTap Course List)

Define cross-sectional and longitudinal designs, identify these designs when they appear in a research report, ...

Research Methods for the Behavioral Sciences (MindTap Course List)

Practice Solve each problem. IMAX screen A large movie screen is in the Panasonic IMAX theater at Darling Harbo...

College Algebra (MindTap Course List)

Find each base. Round the answers to 2 decimal places when necessary. 50. 3.8 is 95.3% of what number?

Mathematics For Machine Technology

Shirley Trembley buys a house for 187,600. She puts 20 down and obtains a simple interest amortized loan for th...

Mathematics: A Practical Odyssey

Refer to exercise 9, where the following data were used to investigate the relationship between the number of c...

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The article Doctor Dogs Diagnose Cancer by Sniffing It Out (Knight Ridder Newspapers, January 9, 2006) reports ...

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Define individual differences and explain how individual differences between groups and confounding from enviro...

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