Suppose the quantity, q, of a good produced depends on the number of workers, w, and the amount of capital, k, invested and is represented by the Cobb-Douglas function . In addition, labor costs are $20 per worker and capital costs are $20 per unit, and the budget is $2720. Using Lagrange multipliers, find the optimum number of workers.

Question

Suppose the quantity, q, of a good produced depends on the number of workers, w, and the amount of capital, k, invested and is represented by the Cobb-Douglas function  . In addition, labor costs are $20 per worker and capital costs are $20 per unit, and the budget is $2720. Using Lagrange multipliers, find the optimum number of workers.

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The Answer of Suppose the quantity, q, of a good produced depends on the number of workers, w, and the amount of capital, k, invested and is represented by the Cobb-Douglas function  . In addition, labor costs are $20 per worker and capital costs are $20 per unit, and the budget is $2720. Using Lagrange multipliers, find the optimum number of workers.

Suppose the Quantity, Q, of a Good Produced Depends on the Number