3. Mr. Hunt and Ms. Peck agree to type a manuscript for Professor Paul. The production function for...

Question

3. Mr. Hunt and Ms. Peck agree to type a manuscript for Professor Paul. The production function for the
manuscript is given to be
Q=H1/4P3/4 where Q = the number of typewritten pages, H = the number of hours Mr. Hunt spends
typing, and P = the number of hours Ms. Peck spends typing. Hunt and Peck receive $4 and $12 per
hour, respectively.
(A) If Professor Paul decides to minimize the cost of production, how much of Mr. Hunt's and Ms.
Peck' s labor will be used to produce a 300-page manuscript?
Answer:
Q=H^(1/4)*P^(3/4) ………………. (1)
Price of hunt = $4 and price of...

Robert · Accepted Answer

3. Mr. Hunt and Ms. Peck agree to type a manuscript for Professor Paul. The production function for the 
manuscript is given to be  
Q=H1/4P3/4 where Q = the number of typewritten pages, H = the number of hours Mr. Hunt spends 
typing, and P = the number of hours Ms. Peck spends typing. Hunt and Peck receive $4 and $12 per 
hour, respectively.  
(A) If Professor Paul decides to minimize the cost of production, how much of Mr. Hunt's and Ms. 
Peck' s labor will be used to produce a 300-page manuscript?  
Answer: 
Q=H^(1/4)*P^(3/4) ……………….

3. Mr. Hunt and Ms. Peck agree to type a manuscript for Professor Paul. The production function for the manuscript is given to be Q=H1/4P3/4 where Q = the number of typewritten pages, H = the number...

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