Homework Help: calculus word problem

Posted by dino on Saturday, November 17, 2012 at 6:08pm.

A company has a Cobb-Douglas production function f(x,y)= 20x^0.33y0.67 where x is the utilization of labor and y is the utilization of capital. Determine the number of units of product produced when 1728 units of labor and 27,000 units of capital are used.

calculus word problem - Damon, Saturday, November 17, 2012 at 7:01pm
20 (1728)^.33 (27000)^.67

I can do this with my calculator

20 (11.7)(931) = 217,886
calculus word problem - Damon, Saturday, November 17, 2012 at 7:02pm
20 (1728)^.33 (27000)^.67

I can do this with my calculator

20 (11.7)(931) = 217,886
calculus word problem - Damon, Saturday, November 17, 2012 at 7:05pm
or use logs

.33 log 1728 = .33 * 3.24 = 1.0684
10^1.0684 = 11.7

etc
calculus word problem - dino, Saturday, November 17, 2012 at 7:58pm
Thank you very much

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