m=3.5

0.4- m 50 8/ a m 0.6+ At a certain factory, output is given by the Cobb-Douglas production P= (60+ +m)K 50 L function units, where K is the capital investment measured in units of 1000 dollars and I the size of the labor force measured in worker-hours. When the capital expenditure is (500000 + 10000m) dollars and the labor level is (1000 + 10m) worker- hours, use calculus to estimate the change in output if the labor force is increasing by 1 hour, while the capital is unchanged. Now factory capital expenditure and labor level will be (800000 + 10000m) dollars and (1200 + 10m) worker-hours respectively. Use calculus to estimate the final change in output if the capital is increasing in 3000 dollars and the labor force is reduced by 5 hours. b/ 0.4- m 50 8/ a m 0.6+ At a certain factory, output is given by the Cobb-Douglas production P= (60+ +m)K 50 L function units, where K is the capital investment measured in units of 1000 dollars and I the size of the labor force measured in worker-hours. When the capital expenditure is (500000 + 10000m) dollars and the labor level is (1000 + 10m) worker- hours, use calculus to estimate the change in output if the labor force is increasing by 1 hour, while the capital is unchanged. Now factory capital expenditure and labor level will be (800000 + 10000m) dollars and (1200 + 10m) worker-hours respectively. Use calculus to estimate the final change in output if the capital is increasing in 3000 dollars and the labor force is reduced by 5 hours. b/