Question
Q1.Alice Kramer. head of the engineering department of the Automatic Switch Company, estimates the following production and marginal product functions for assembly of the K-2
Q1.Alice Kramer. head of the engineering department of the Automatic Switch Company, estimates the following production and marginal product functions for assembly of the K-2 switch: (15) Q= 30X+2XY-0.5X2-0.5Y2 MPx= 30-2Y-X MPy= 2X-Y Where Q =total output of K-2 switches, X= worker hours and Y= machine tool hours.
A. Assume a weekly rate of use where X= 70 worker hours and Y= 30 machine tool hours. What is total product per week?
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The Economics of Public Issues
Authors: Roger LeRoy Miller, Daniel K. Benjamin, Douglass C. North
19th edition
134018974, 134018973, 9780134020532 , 978-0134018973
