Examlex

Solved

The Production Function for a Company Is , Where

question 119

Multiple Choice

The production function for a company is The production function for a company is   , where P is the amount produced given x units of labor and y units of equipment. Each unit of labor costs $1200 and each unit of equipment costs $350. Assuming the goal of the company is to maximize production given a fixed budget of $45,000, what are the objective and constraint functions? A) objective:   ; constraint:   B) objective:   ; constraint:   C) objective:   ; constraint:   D) objective:   ; constraint:  , where P is the amount produced given x units of labor and y units of equipment. Each unit of labor costs $1200 and each unit of equipment costs $350. Assuming the goal of the company is to maximize production given a fixed budget of $45,000, what are the objective and constraint functions?


Definitions:

Related Questions