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English, 07.01.2022 14:00 neolmar9329

): Consider the optimization problem of maximizing Cobb–Douglas production function: Q = 20 K1/2 L1/2, subject to cost constraint: K + 4L = 48. a/ Use the method of Lagrange multipliers to find the maximum value of the production function;
b/ Estimate the change in the optimal value of Q if the cost constraint is changed to: K + 4L = 50, and state the new maximum value of the production function.

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