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An outdoor outfitter estimates its total production of 60-meter climbing ropes is f(x,y) = 4x 0.75 y 0.25 , where x is the number of
An outdoor outfitter estimates its total production of 60-meter climbing ropes is f(x,y) = 4x0.75y0.25, where x is the number of units of labor and y is the number of units of capital utilized. If $40,000 is available for labor and capital, and if the firm's cost are $100 per unit of labor and $200 per unit of capital, how many units of each will give the maximized production?
How many 60-meter ropes will be produced?
Use the Lagrange method.
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