How would you maximize revenue

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Reference no: EM133380338

Question: Suppose you are running a factory, producing anvils that requires steel as a. raw material. Your costs are predominantly human labor (h), which is $20 per hour for your workers, and the steel itself (3), which runs for $160 per ton. Suppose your revenue is loosely modeled by the following equation: 1001159? If your budget is $10,000, how would you maximize revenue? Solve this problem using the Lagrangian method.

Reference no: EM133380338

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