Question

A company produces x units of commodity a and y units of commodity b each hour. The company can sell all of its units when commodity a sells for p = 80 10x dollars per unit and commodity b sells for q = 90 5y dollars per unit. The cost (in dollars) of producing these units is given by the joint-cost function c(x, y) 5xy4. How much of commodity a and commodity b should be sold in order to maximize profit?

Answer 1

The four requirements of production of goods and services are land, labor, physical capital and human capital. Land is the physical place where all the economic activity takes place. Land plays an important part in production because land itself and the resources on it are usually limited

Answer 2

Answer:

The resources on it are usally limited