Business, 04.05.2021 03:00 Gearyjames8
The daily output at a plant manufacturing desks is approximated by the function f(L, K)=30K7/10L4/5 desks where L is the size of the labor force measured in hundreds of worker-hours and K is the daily capital investment in thousands of dollars. If the plant manager has a daily budget of $14,000 and the average wage of an employee is $11.50 per hour, what combination of worker-hours (to the nearest hundred) and capital expenditures (to the nearest thousand) will yield maximum daily production?
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The daily output at a plant manufacturing desks is approximated by the function f(L, K)=30K7/10L4/5...
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