At a certain factory, output is given by Q = 60K 1/3 L 2/3 units, where K
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At a certain factory, output is given by Q = 60K1/3L2/3 units, where K is the capital investment (in thousands of dollars) and L is the size of the labor force, measured in worker-hours. If output is kept constant, at what rate is capital investment changing at a time when K = 8, L = 1,000, and L is increasing at the rate of 25 worker-hours per week?
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Related Book For
Calculus For Business, Economics And The Social And Life Sciences
ISBN: 9780073532387
11th Brief Edition
Authors: Laurence Hoffmann, Gerald Bradley, David Sobecki, Michael Price
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