Question
Rick is starting a new company and needs to invest capital (x) and hire workers (y). The cost function for his company is: Cost(x,y) =
Rick is starting a new company and needs to invest capital (x) and hire workers (y).
The cost function for his company is:
Cost(x,y) = 450 + 10x + 4y + 2.5x^2 + y^2 - 4xy
Find the optimal mix of x and y. What is the total cost? Be sure to check SOC.
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Principles Of Microeconomics
Authors: N Gregory Mankiw
9th Edition
035713348X, 9780357133484
