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Given production function 14 = 20 t 2 - 13 4 = total amount of wood chucked ( Jbs ) in one day, and t
Given production function 14 = 20 t 2 - 13 4 = total amount of wood chucked ( Jbs ) in one day, and t = time (hours ) spent chucking wood a ) What is maximum amount of wood a wood- chucked by the chuck could chuck in a day? How many hours does the woodchuck chuck wood to chuck that much wood? b Show that elasticity of production has the characteristics such that Ep 21 in Stage I and EPL1 in Stage II. Explain what these elasticsti isties measures mean. C Find rumber of hours (t) where the borde between stage I and Stage II occurs. Find the number of hourstt) where the border between stage II and Stage IL occurs
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