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1. A politician facing reelection can win votes according to the following process: V=500S^0.20*M^0.60, where S is hours of making campaign speeches and M is the number of flyers mailed. Making speeches costs $10 per hour, mailing flyers costs $.50 per flyer, and $8,000 are available to spend on the campaign. Assuming the politician wants to maximize votes, how should the budget be allocated between speeches and mailing flyers?
This document contains various important questions and their appropriate answers in the subject field of Economics.
Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.
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