Answer:
[tex]P(100, 45) \approx 111.15[/tex]
Step-by-step explanation:
We are given the following in the question:
[tex]P(L, K) = 1.47L^{0.65}K^{0.35}[/tex]
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,
[tex]P(100, 45) = 1.47(100)^{0.65}(45)^{0.35}\\P(100, 45) = 111.158253493\\P(100, 45) \approx 111.15[/tex]
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.
