The Cobb-Douglas production function for a company is given by
where P is the monthly production value when k is the number of units of capital and l is the number of units of labor.Suppose that capital costs $150 per unit,labor costs $225 per unit,and the total cost of capital and labor is limited to $270,000.Use Lagrange multipliers to write the system of equations you would use to find the number of units of capital and labor that maximize production.

Question

The Cobb-Douglas production function for a company is given by  
where P is the monthly production value when k is the number of units of capital and l is the number of units of labor.Suppose that capital costs $150 per unit,labor costs $225 per unit,and the total cost of capital and labor is limited to $270,000.Use Lagrange multipliers to write the system of equations you would use to find the number of units of capital and labor that maximize production.

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The Answer of The Cobb-Douglas production function for a company is given by  
where P is the monthly production value when k is the number of units of capital and l is the number of units of labor.Suppose that capital costs $150 per unit,labor costs $225 per unit,and the total cost of capital and labor is limited to $270,000.Use Lagrange multipliers to write the system of equations you would use to find the number of units of capital and labor that maximize production.

The Cobb-Douglas Production Function for a Company Is Given by