The company is subject to a production limit of 150. Remuneration of labor w equals 3, while the remuneration of the capital r is equal to 15.
A) When using the Lagrange method, create an expression of the company’s production maximization problem.
B) Find the partial derivatives and solve the system for the labor force L, capital K and .
What is the company’s production?
C) Suppose now that the production limitation is relaxed with 1 unit. What is the change in the company’s production?
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