ABSTRACT
A company manufactures new E-phones that are supposed to capture the market by storm. The two main inputs components of the new E-phone are the circuit board and the relay switches that make the phone faster, smarter, and have more memory. The number of E-phones to be produced is estimated to E = 200 a 1 2 b 1 4 , https://s3-euw1-ap-pe-df-pch-content-public-p.s3.eu-west-1.amazonaws.com/9781003009573/94296aab-a863-4b69-a9f7-e057ead7b3b0/content/C008_equ_0001.tif"/> where E is the number of phones produced while a and b are the number of circuit board hours and the number of relay hours worked, respectively. Such a function is known to Economists as a Cobb-Douglas function. Our laborers are paid by the type of work they do: the circuit boards and the relays for $5 and $10 an hour. We want to maximize the number of E-phones to be made if we have $150,000 to spend on these components in the short run.
