Answer:
Step-by-step explanation:
Given problem: C(x,y) = 36x + 48y
constraint: 100x^0.6y^0.4
Using langrange Multiplier,
36 = 0.6(100)x^-0.4y^0.4λ i
48 = 0.4(100)x^0.6y^-0.6λ ii
dividing the equations we have:
x = 2y
substituting into the constraint
p(x,y) = 100 *(2y)^0.6 y^0.4 = 100*2^0.6 *y
5000 = 151.572y
y = 329.876 labor units
x = 659.752 capital units
Minimum cost = 36(659.752) +48(329.876) = $39585.12
