I've been taking some econmics classes. Our teacher has showed us some
problems using solver to complete tables.
Wondering if anyone out there can help.

We have a company who uses units of labor (L) and material (m) to
produce a certain quantity of output (q). The price of labor is $1 per
unit of L and the price of materials is also $1 per unti of M.
The prduction function is Q=L(raised to 4th power)XM(raised to 6th
power)...sorry don't know how to type in exponents.

Anyway, we're basically given a table (spreadsheet) with Q as the first
column..labled 1 down to 9. Then column 2 is L, Column 3 is M, and then
the final column is Total Cost.

Basically, I'm trying to find the cost minimizing quantities of L and M
that should be used to produce each quantity of output. So far, I've
had little luck using calculus. How can this be done using solver?

Thanks in advance!


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justhrowit
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