Question
A firm uses wool and cotton fiber to produce cloth. The amount of cloth produced is given by , where is the number of pounds of wool, is the number of pounds of cotton, and and . If wool costs dollars per pound, cotton costs dollars per pound, and the firm can spend dollars on material, what should the mix of cotton and wool be to produce the most cloth?
Solution
VerifiedAnswered 2 years ago
Answered 2 years ago
Step 1
1 of 3The amount of cloth produced is described by the function .
The cost function is given by . In fact, the cost of wool is dollars per pound; and cotton, dollars per pound. Since the firm can spend dollars then .
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