Consider the production function below, where the hourly output (Y) is a function of the number of

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Consider the production function below, where the hourly output (Y) is a function of the number of machineries (M) and labor force (L). Y=5*M0.34*L0.66 What is the maximum amount of production when we employ only 2 machineries, but allow the labor force to vary (in a discrete fashion) between 4, 5, 6, 7, and 8? Enter your answer below with only two decimal point

Posted Date: Jun 12, 2024 01:09 AM

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Consider the production function below, where the hourly output (Y) is a function of the number of

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