A manufacturing firm has budgeted 40 thousand per month for labor and materials. If $x thousand is spent on lab and $y thousand is spent on materials, and if the monthly output (in units) is given by N(x, y) = 2xy-6y How should the 40 thousand be allocated to labor and materials to maximize N : x+y = 40. What is maximum N?
A manufacturing firm has budgeted 40 thousand per month for labor and materials. If $x thousand is spent on lab and $y thousand is spent on materials, and if the monthly output (in units) is given by N(x, y) = 2xy-6y How should the 40 thousand be allocated to labor and materials to maximize N : x+y = 40. What is maximum N?
Chapter6: Proudction Costs
Section: Chapter Questions
Problem 9SQP
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Transcribed Image Text:Problem 5/
A manufacturing firm has budgeted 40 thousand per month for labor and materials. If $x thousand is spent on labor
and $y thousand is spent on materials, and if the monthly output (in units) is given by
N(x, y) = 2xy-6y
How should the 40 thousand be allocated to labor and materials to maximize N : x+y=40.
What is maximum N?
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