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Find the average value of the Cobb-Douglass production function \(f(x, y)=\) \(x^{1 / 3} y^{2 / 3}\) for the range of \(x\) and \(y\) given by $$ D=\\{(x, y): 8 \leq x \leq 27,1 \leq y \leq 8\\} $$

Short Answer

Expert verified
The average value is approximately 224.81.

Step by step solution

01

Introduction to Problem

We need to calculate the average value of the Cobb-Douglas production function \(f(x, y) = x^{1/3}y^{2/3}\) over the domain \(D = \{(x, y) : 8 \leq x \leq 27, 1 \leq y \leq 8\}\). To find this average value, we'll use the formula for the average value of a function over a region.
02

Set Up the Average Value Formula

The formula for the average value \(f_{avg}\) of a function \(f(x, y)\) over a region \(D\) is given by:\[f_{avg} = \frac{1}{\text{Area of } D}\int_{D} f(x, y) \, dA\]Here, \(dA = dx \, dy\). First, we need to determine the area of the region \(D\). Since \(D\) is a rectangle with dimensions 19 along \(x\) (from 8 to 27) and 7 along \(y\) (from 1 to 8), its area is \(19 \times 7 = 133\).
03

Set Up the Double Integral

Next, we set up the double integral of \(f(x, y)\) over the region \(D\). This can be expressed as:\[\int_{8}^{27} \int_{1}^{8} x^{1/3} y^{2/3} \, dy \, dx\]We will first integrate with respect to \(y\) and then with respect to \(x\).
04

Integrate with Respect to \(y\)

Calculate the integral with respect to \(y\) first:\[\int_{1}^{8} x^{1/3} y^{2/3} \, dy = x^{1/3} \cdot \left[ \frac{3}{5} y^{5/3} \right]_{1}^{8}\]Solving this, we get:\[x^{1/3} \cdot \left( \frac{3}{5} \cdot 8^{5/3} - \frac{3}{5} \cdot 1^{5/3} \right)\]
05

Evaluate the Inner Integral

Substitute the values into the expression:\[x^{1/3} \cdot \left( \frac{3}{5} (4^5 - 1) \right) = x^{1/3} \cdot \left( \frac{3}{5} (1024 - 1) \right)\]This simplifies to:\[x^{1/3} \cdot 613.8\]
06

Integrate with Respect to \(x\)

Now integrate the expression with respect to \(x\):\[\int_{8}^{27} x^{1/3} \cdot 613.8 \, dx = 613.8 \cdot \left[ \frac{3}{4} x^{4/3} \right]_{8}^{27}\]Evaluate this from 8 to 27.
07

Evaluate the Outer Integral

Substitute the limits into the antiderivative:\[613.8 \cdot \left( \frac{3}{4} \cdot (27^{4/3} - 8^{4/3}) \right)\]\(27^{4/3} = 81\) and \(8^{4/3} = 16\), so we have:\[613.8 \cdot \frac{3}{4} \cdot (81 - 16) = 613.8 \cdot \frac{3}{4} \cdot 65 = 613.8 \cdot 48.75 = 29900.25\]
08

Compute the Average Value

Finally, compute the average value \(f_{avg}\) using the result from the integral and the area of the rectangle:\[f_{avg} = \frac{29900.25}{133} \approx 224.81\]
09

Conclusion

The average value of the Cobb-Douglas production function over the specified region is approximately 224.81.

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Key Concepts

These are the key concepts you need to understand to accurately answer the question.

Average Value of a Function
The average value of a function is a concept in calculus that quantifies the "typical" output of a function over a certain region. In the realm of multivariable calculus, this is crucial for understanding the behavior of functions that depend on more than one variable, like our Cobb-Douglas production function. To find the average value of the given function over a specified domain, we use the formula:
\[ f_{avg} = \frac{1}{\text{Area of } D}\int_{D} f(x, y) \, dA \]
Here, \(D\) represents the region over which we are taking the average, and \(dA\) symbolizes a small piece of this region. For a rectangle in the \(xy\)-plane, which is common in such problems, the area is simply the product of its width and height. By dividing the total integral over this area, we derive an "average output" of the function across that region. This average informs us of the function's behavior beyond singular points, highlighting its overall influence in the specified zone.
Double Integral
Double integrals extend the concept of single-variable integrals to functions of two variables. They are essential for calculating volumes, average values, and other multidimensional applications. To evaluate the average value of the Cobb-Douglas function, we first set up a double integral across the region \(D\):
\[\int_{8}^{27} \int_{1}^{8} x^{1/3} y^{2/3} \, dy \, dx\]This expression involves two integrations, one inside the other, to capture the full influence of both variables across their respective ranges. Begin with integrating with respect to \(y\). Once this inner integral is solved, we substitute the result into the outer integral and integrate with respect to \(x\). Double integrals allow us to accumulate values across a two-dimensional space, providing a comprehensive picture of the function's behavior across the entire domain.
Multivariable Calculus
Multivariable calculus is an advanced area of calculus dealing with functions of multiple variables. Concepts like partial derivatives and multiple integrals stem from this branch, offering tools to model complex phenomena in economics, physics, and engineering. The Cobb-Douglas production function involves two variables, \(x\) and \(y\), each representing different inputs in production. By considering both simultaneously, we can analyze how changes in one variable influence output while holding the other constant.
In multivariable calculus, the idea of differentiating and integrating across multiple dimensions is central. Concepts such as gradients and optimization further enrich our understanding, providing insights into how best to allocate resources effectively. The use of tools like double integrals in multivariable calculus helps in computing average values, volumes, and more, showing how the function behaves not just along a line, but over an entire area or volume, reflecting the nature of the real-world problems we're often solving.

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