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Your automobile assembly plant has a Cobb-Douglas production function given by 9 = x0.40.6 where q is the number of automobiles it produces per year,
Your automobile assembly plant has a Cobb-Douglas production function given by 9 = x0.40.6 where q is the number of automobiles it produces per year, x is the number of employees, and y is the daily operating budget (in dollars). Annual operating costs amount to an average of $24,000 per employee plus the operating budget of $365y. Assume that you wish to produce 3,000 automobiles per year at a minimum cost. How many employees should you hire? (Round your answer to the nearest employee.) x = 195 X employees
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