The production function for a company's product is P = 100L + 50k -
-
,where P is the output that results from L units of labor and k units of capital.The unit costs of labor and capital are 6 and 3,respectively.If the company wants the total cost of inputs to be 30,determine the greatest output possible subject to this budget constraint.

Question

The production function for a company's product is P = 100L + 50k -  
-  
,where P is the output that results from L units of labor and k units of capital.The unit costs of labor and capital are 6 and 3,respectively.If the company wants the total cost of inputs to be 30,determine the greatest output possible subject to this budget constraint.

Quizplus · Accepted Answer

The Answer of The production function for a company's product is P = 100L + 50k -  
-  
,where P is the output that results from L units of labor and k units of capital.The unit costs of labor and capital are 6 and 3,respectively.If the company wants the total cost of inputs to be 30,determine the greatest output possible subject to this budget constraint.

The Production Function for a Company's Product Is P =