A mop company can produce mops using x units of capital and y units of labor, with production costs
dollars. With a budget of $550,000, the maximum production is 65,000 mops, using $400,000 in capital and $150,000 in labor. The Lagrange multiplier is
. Which of the following is true?
A) The objective function is and the constraint is
.
B) The objective function is and the constraint is
.
C) The objective function is and the constraint is
.
D) The objective function is and the constraint is
.
Correct Answer:
Verified
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