Your Automobile Assembly Plant Has a Cobb-Douglas Production Function Given $q = x ^ { 0.5 } y ^ { 0.5 }$

question 64

Multiple Choice

Your automobile assembly plant has a Cobb-Douglas production function given by
$q = x ^ { 0.5 } y ^ { 0.5 }$
Where q is the number of automobiles it produced 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 $30,000 per employee plus the operating budget of $\$ 300 y$ . Assume you wish to produce 1,500 automobiles per year at a minimum cost. How many employees should you hire

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Definitions:

16PF

A personality test that assesses sixteen primary personality factors, based on factor analysis of psychological behaviors.

Global Score

A cumulative score that represents an overall assessment or evaluation, typically in the context of tests or evaluations.

Personality Codes

Systems or schemes used to categorize individuals according to their personality traits or characteristics.

MMPI-II

The Minnesota Multiphasic Personality Inventory-2, a widely used standardized psychometric test of adult personality and psychopathology.