Least-Cost Rule Repeat Exercise 37 for the production function given by
Least-Cost Rule The production function for a company is given by
(a) Find the numbers of units of labor and capital needed to meet the production goal while minimizing the cost.
(b) Show that the conditions of part (a) are met when
This proportion is called the Least-Cost Rule (or Equimarginal Rule).
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Chapter 7 Solutions
Calculus: An Applied Approach (MindTap Course List)
- Projectile Motion In Exercises 75 and 76, consider the path of an object projected horizontally with a velocity of v feet per second at a height of s feet, where the model for the path is x2=v216ys. In this model (in which air resistance is disregarded), y is the height (in feet) of the projectile and x is the horizontal distance (in feet) the projectile travels. A ball is thrown from the top of a 100-foot tower with a velocity of 28 feet per second. (a) Write an equation for the parabolic path. (b) How far does the ball travel horizontally before it strikes the ground?arrow_forwardGrazing Rabbits and Sheep This is a continuation of Exercise 21. In addition to the kangaroos, the major grazing mammals of Australia include merino sheep and rabbits. For sheep, the functional response is S=2.82.8e0.01V, and for rabbits, it is H=0.20.2e0.008V, Here S and H are the daily intake measured in pounds, and v is the vegetation biomass measured in pounds per acre. a. Find the satiation level for sheep and that for rabbits. b. One concern in the management of rangelands is whether the various species of grazing animals are forced to complete for food. It is thought that competition will not be a problem if the vegetation biomass level provides at least 90 of the satiation level for each species. What biomass level guarantees that competition between sheep and rabbits will not be problem?arrow_forward
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