Find the quatanties of capital and labor that maximize, Ask an Expert

Economics

You are given the following production function: Q=20l+65c-.2L^2-.2c^2 (^2 means raised to the second power incase you didnt know) the firms total budget is 3000, capital (c) costs $50 a unit, and labor(L) costs $20 a unit

A. find the quatanties of capital and labor that maximize output,while at the same time satisfy the firms budget constraint

B. what will happen to the firms output if the budget is raised by 100?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M9443686

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