A manager hires labour and rents capital equipment in a very competitive market. Currently the wage rate is GH¢2 per hour and capital is rented at GH¢5 per hour, the unit price of the product is GH¢0.25 and total cost is 1000. Suppose the firm's production function is as follows: � = 14�*.,�*., + 10 i. What is the amount of labour and capital the firm should employ in order to maximize output? [Hint: Maximise the product function subject to the cost constraint] ii. What is the maximum profit?

Solution :

It is given that the manager hires a labor and he rents the capital equipment .

Presently the rate of the wage is at $ 10 per hour and the capital is been rented at $ 0.25. If the of the labor is 50 units of the output per hour and the marginal.

Therefore, the answer is

14 + 10 = 24

answer: sine

step-by-step explanation:

b. would be the answer : )

step-by-step explanation:

step 1: add -16x to both sides.

16x−4y+−16x=64+−16x  

−4y=−16x+64

step 2: divide both sides by -4.

−4y /-4 = -16x + 64/-4

answer:   y=4x−16

hope i'm right