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4: Preview (5 points each/ A company's revenue in millions of dollars is given by 10.21/3y2/3, where x and y are yearly expenditures on labour
4: Preview (5 points each/ A company's revenue in millions of dollars is given by 10.21/3y2/3, where x and y are yearly expenditures on labour and capital, respectively, in millions of dollars, (a) Suppose that the company currently spends 8 million dollars per year on labour and 27 million dollars per year on capital. They plan to increase total yearly spending by 100,000 dollars. In order to increase revenues the most, should the new funds be spent on labour or capital? (b) If the company's total yearly budget is 45 million dollars how much should be spent on labour and capital in order to maximize revenue
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