f5 4 18-21. The production function for making widgets is P(x, y) = 4,600x3/8y5/8 Where p is the number of units produced with x units of labor and y units of capital. 18) Find the number of units produced with 256 units of labor and 65,536 units of capital. 19) Find the marginal productivities. 20) Evaluate the marginal productivities at x = 243 and y = 1,024. 21) Interpret the meanings of the marginal productivities found in part c. 0 S W % LO f6 4- 6 f1 ♫+ & f8 * fg 8 DII hp f10 9 DDI 112. insert prt sc +

6 Assume an hypothetical consumer faced by the following utility function; U=X^2Y ( squared times y). After a bad harvest and thus bad economic conditions, the price of good X increases from Ksh.4.2 to Ksh. 4.8, while the price of good Y which was ksh. 4 increased to ksh.5. The income of the consumer was ksh. 30 before and after the good harvest. Calculate the CV and EV.

The marginal cost and marginal revenue of a company are MC (q) = 0.03q² − 1.5q + 35 and MR(q) 25, where q is the number of items manufactured. To increase profits, should the company increase or decrease production from each of the following levels? (a) 25 items: The company should production. (b) 50 items: The company should (c) 80 items: The company should production. production. =

The total revenue for a product can be calculated as the area under the demand curve. Suppose that the demand curve for a certain wine (in dollars per liter) is given by the following, where is the demand in liters. Estimate the total revenue using rectangles of width 10 ters D(4) = ² -10q+267 for 0 sqs50 The approximate revenue using left endpoints is The approximate revenue using right endpoints is $ The approximate revenue using the average is $