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  3. suppose that p(x, y)-represents the production of

Suppose that p(x, y)-represents the production of a two-product firm. The company produces x units...

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Calculus

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Suppose that p(x, y)-represents the production of a two-product firm. The company produces x units of the first product at a cost of c? each and y units of the second product at a cost of c? each. The budget constraint, B, is a constant given by the following formula. Use the method of Lagrange multipliers to find the value of ? in terms of Px, Py, c?, and c?. The resulting equation holds for any production function p and is called the Law of Equimarginal Productivity. B=c?x + c?yA. ? = Px/c? = Py/c?B. ? = Px = c? = Py = c?C. ? = Py/c? = Px/c?D. ? = c?/Px = c?/Py

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