Get Academic Help Instantly!

Law homework help. Question 5 8 marks A manufacturing company produces the quantity q of a product that depends on W workers and a capital 3 1amount K as given by the equation q = 6 (W); (K)?Labour costs are $10 per worker and capital costs are $20 per unit of capital and the total cost is $3000. (8)lb)(C)(d) (E) Formulate the Lagrange function for this problem. (1 mark)Find the partial derivatives of the Lagrange function. {1 mark)Solve the system of equations to ?nd the optimal solution. {2 marks) Demonstrate the following economic principle for the optimal solution found in (c) that The marginal productivity of labour 3—3) :The marginal productivity of capital (2%)= Cost per unit of labour : Cost per unit of capital (2 marks) Recompute the optimal values for W and K when the total cost is increased by $1 and check that thisallows for the production of an extra A units whereh is the Lagrangian multiplier. (2 marks)

Law homework help


10% off for this assignment.

Our Prices Start at $11.99. As Our First Client, Use Coupon Code GET10 to claim 10% Discount This Month!!

Why US?

100% Confidentiality
100% Timely Delivery
100% Original Writing

100% Money Back

Cheap Essay Writing

Do my Assignment

Order custom essay

Sample Essays

Custom term paper

Write My Research Paper

Affiliate program

Custom essay

Research paper

Write my essay

Write my paper

Essay writers

Become a Freelance Writer

Contact us



Terms and conditions

Privacy policy

Proficient Concepts  is a professional writing service that provides original papers. Our products include academic papers of varying complexity and other personalized services, along with research materials for assistance purposes only. All the materials from our website should be used with proper references.