A manufacturer has modeled its yearly production function P (the monetary value of its entire production in millions of dollars) as a Cobb-Douglas function P(L, K) = 1.47L0.65K0.35 where L is the number of labor hours (in thousands) and K is the invested capital (in millions of dollars). Find P(100, 45) and interpret it. (Round your answers to one decimal place.)

Step-by-step explanation:

We are given the following in the question:

where P(L,K) is the monetary value of its entire production in millions of dollars,  L is the number of labor hours in thousands and K is the invested capital in millions of dollars.

We have to find the value of P(100, 45).

Putting values, we get,

Interpretation:

When manufacture invests 45 million dollars and 100 thousand hours of labor are completed, then, the yearly monetary value of its entire production is approximately 111.15 million dollars.

the answer is a

step-by-step explanation:

17   x 256=4352

sorry if this is wrong, i'm new.

step-by-step explanation: