A manufacturer can produce 5,130 cell phones when a dollars is spent on labor and y dollars is spent on capital. The model that represents the cost of producing the cell phones is given by 31 95x y = 5130 A. Find the marginal cost model, in terms of x and y. dy dr B. Find the marginal cost when $81 is spent on labor and $16 is spent on capital. Round the marginal cost to the nearest cent. $

Microeconomics
13th Edition
ISBN:9781337617406
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter8: Production And Costs
Section: Chapter Questions
Problem 13QP
icon
Related questions
Question
A manufacturer can produce 5,130 cell phones when a dollars is spent on labor and y dollars is spent on
capital. The model that represents the cost of producing the cell phones is given by
95 x y z = 5130
A. Find the marginal cost model, in terms of x and y.
dy
dx
=
B. Find the marginal cost when $81 is spent on labor and $16 is spent on capital. Round the marginal
cost to the nearest cent.
$
Transcribed Image Text:A manufacturer can produce 5,130 cell phones when a dollars is spent on labor and y dollars is spent on capital. The model that represents the cost of producing the cell phones is given by 95 x y z = 5130 A. Find the marginal cost model, in terms of x and y. dy dx = B. Find the marginal cost when $81 is spent on labor and $16 is spent on capital. Round the marginal cost to the nearest cent. $
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

Blurred answer
Knowledge Booster
Input Substitution
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.
Recommended textbooks for you
Microeconomics
Microeconomics
Economics
ISBN:
9781337617406
Author:
Roger A. Arnold
Publisher:
Cengage Learning
Economics (MindTap Course List)
Economics (MindTap Course List)
Economics
ISBN:
9781337617383
Author:
Roger A. Arnold
Publisher:
Cengage Learning
Economics:
Economics:
Economics
ISBN:
9781285859460
Author:
BOYES, William
Publisher:
Cengage Learning
Microeconomics A Contemporary Intro
Microeconomics A Contemporary Intro
Economics
ISBN:
9781285635101
Author:
MCEACHERN
Publisher:
Cengage
Exploring Economics
Exploring Economics
Economics
ISBN:
9781544336329
Author:
Robert L. Sexton
Publisher:
SAGE Publications, Inc
Economics: Private and Public Choice (MindTap Cou…
Economics: Private and Public Choice (MindTap Cou…
Economics
ISBN:
9781305506725
Author:
James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:
Cengage Learning