A manufacturer's production is modelled by the function f(x, y ) = 100x 34 y 14 where x у represents the units of labour and y represents the units of capital. Each labour unit costs $ 200 and each capital unit costs $ 250. The total expenses for labour and capital must be $ 50, 000. Find the maximum production level.

What is the difference between a fixed input and a variable input?

Which costs are measured on per-unit basis: fixed costs, average cost, avenge variable cost, variable costs, and marginal cost?