Concept explainers
Matched Problem 4The productivity of an airplane–manufacturing company is given approximately by the Cobb–Douglas production function
(A) Find fx(x, y) and fy(x, y).
(B) If the company is currently using 1.500 units of labor and 4,500 units of capital, find the marginal productivity of labor and the marginal productivity of capital.
(C) For the greatest increase in productivity, should the management of the company encourage increased use of labor or increased use of capital?
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Calculus for Business, Economics, Life Sciences, and Social Sciences (14th Edition)
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