genakwhite5691 genakwhite5691

25-05-2023
Mathematics

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Given the Cobb-Douglas production function for Beetroot: f (X, Y) = 40X0.5 Yo.5, Maximize production f (X, Y), Subject to: 15X+50Y = 8 000. X = labour (15/unit); Y = Capital (50/unit); Budget = 8 000. What is the value of X and the value of Y that maximises production? (25)

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