Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Total, and differential derivative applications If Z = f (x, y) with x = g (t) and Y = h (t), how is the total

image text in transcribed
Total, and differential derivative applications If Z = f (x, y) with x = g (t) and Y = h (t), how is the total derivative dz / dt is expressed? What does a total derivative measure us? What is the term (dz / dy . dy / dt) is telling us within the total derivative? The production of a certain plant is Q (x. y) = 0. 08x- + 0. 12xy + 0.03y units per day, where "x" is the number of hours of skilled labor used and "y" is the number of hours of unskilled labor. Today 80 hours of skilled labor and 100 hours of unskilled labor are employed every day. Use the total differential of Q to estimate the resulting change in production if 1 hour of skilled labor is added and 2 hours of unskilled labor are to be decreased. Interpret the result. At a factory, output production is Q - 120K-LIunits, where K represents capital investment measured in units of $ 1,000 and L the size of the labor force measured in worker-hours. Currently, the capital investment is $ 250,000 and 400 worker-hours are employed. Apply the total differential of Q to estimate the resulting change in output if capital investment increases by $ 500 and labor increases by 2 worker-hours. H

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

More Books

Students also viewed these Economics questions

Question

f. What subspecialties and specializations does the person list?

Answered: 1 week ago

Question

6. How can a message directly influence the interpreter?

Answered: 1 week ago