Evaluate the following: −3 − (−2).
1 answer:
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Answer:
The minimum cost of producing 60000 units of a product is $105867
Step-by-step explanation:
Since x is the number of units of labor, at $99 per unit, and y is the number of units of capital expended, at $84 per unit, The cost C(x,y) is given by:
For the minimum cost:
Using the langrage multiplier,
Dividing both equation 1 and 2
Substituting in
, we get:
labor units
Substituting labor units in
, we get
labor unit
The minimum cost of producing 60000 units of a product is $105867