Saturday

April 19, 2014

April 19, 2014

Posted by **Anonymous** on Monday, April 4, 2011 at 9:53am.

q = 6 * W^(3/4) * K^(1/4)

Labor costs are $10 per worker and capital costs are $20 per unit, and the budget is $2000.

What are the optimum number of workers and the optimum number of units of capital?"

Thank you in advance for any help!

- Calculus -
**bobpursley**, Monday, April 4, 2011 at 11:19am2000=(q)(10+20)

q=2000/30=667

dq=6*3/4*w^-.25 K^.25 + 6w^.75 * .25K^-.75 =0

18/4*K=6/4 w

3K=w

but from the original equation

667=6 w^.75 * (w/3)^.25

667=6 w (1/3)^.25

and you have w, then go back and k is 3 times that.

check my work, it is easy to err when typing these

**Related Questions**

Microeconomics: Cost of Production - Please help me with this question! QUESTION...

Economy - How to draw isoquant curves for a certain quantity? What does "...

Calculus - "The production amount, Q, of an item manufactured by a company is ...

economics - 6) If average movie ticket prices rise by about 5 percent and ...

Managerial Economics - I'm not sure I have the formulas correct for this problem...

College microeconomics - Need some help with these questions....Thanks in ...

Algebra - I invested $42,000 in three funds paying 5%, 7%, and 9% simple ...

Economics - Suppose the minimum wage is above the equilibrium wage in the market...

maths - MR. x is invested a certain amount in debit and equity funds the ratio ...

calculus - The Cost C of a product is a function of the quantity x of the ...