The automobile assembly plant you manage has a Cobb-Douglas production function given by:
P = 10x^0.5y^0.5
where P is the number of automobiles it produces per year, x is the number of employees, and y is the daily operating budget (in dollars). Assume that you maintain a constant work force of 130 workers and wish to increase production in order to meet a demand that is increasing by 50 automobiles per year. The current demand is 1000 automobiles per year. How fast should your daily operating budget be increasing? Have to round to the nearest cent.
The automobile assembly plant you manage h

Question

The automobile assembly plant you manage has a Cobb-Douglas production function given by:
P = 10x^0.5y^0.5
where P is the number of automobiles it produces per year, x is the number of employees, and y is the daily operating budget (in dollars). Assume that you maintain a constant work force of 130 workers and wish to increase production in order to meet a demand that is increasing by 50 automobiles per year. The current demand is 1000 automobiles per year. How fast should your daily operating budget be increasing?  Have to round to the nearest cent.
 The automobile assembly plant you manage h