Question
A manufacturer estimates that production (in hundreds of units) is a function of the amounts x and y of labor and capital used, as f(x,y)=[2/3x^1/3+1/3y^1/3]^3.
A manufacturer estimates that production (in hundreds of units) is a function of the amounts x and y of labor and capital used, as f(x,y)=[2/3x^1/3+1/3y^1/3]^3. Find the number of units produced when 125 units of labor and 8 units of capital are utilized. Find and intepret fx(8,125) and fy(8,125). What would be the approximate effect on production of increasing labor by 1 unit?
When 8 units of labor and 125 units of capital are utilized ___units are produced.
(Round to four decimal places as needed.)
fx(8,125)=
(Round to four decimal places as needed.)
fy(8,125)=
(Round to four decimal places as needed.)
The approximate effect on production of increasing labor by 1 unit would be ___units.
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