Posted by dino on Saturday, November 17, 2012 at 6:08pm.
A company has a CobbDouglas 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 7:05pm
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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