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5. Suppose that a firm's total profit function is P(x,y) = 2xy + 2y+12-(2x2 +y2), where...
#3 please!! 2. Given the function f(x, y)-x2 +y -2xy -6x - 2y 5, find the following: (a) Find the critical point(s) of the function. For full credit, show all the algebra to find these and give your a...
#3 please!!
2. Given the function f(x, y)-x2 +y -2xy -6x - 2y 5, find the following: (a) Find the critical point(s) of the function. For full credit, show all the algebra to find these and give your answer as ordered pairs. (b) Find the second order partial derivatives and use these to find the determinant of each critical point. Then classify each critical point as a saddle point, relative minimum, or relative maximum point. 3. A wine dealer sells...
B. A firm produces and sells two commodities. By selling x tons of the first commodity...
B. A firm produces and sells two commodities. By selling x tons of the first commodity the firm gets a price per ton given by p = 96 – 4x. By selling y tons of the other commodity the price per ton is given by q = 84 – 2y. The total cost of producing and selling x tons of the first commodity and y tons of the second is given by C(x, y) = 2x2 + 2xy + y2....
#10 and #12 8. Find all points (.y) where fCx.y) -3x2 + 7xy -4y2 + x + y has possible relative maximum or minimum values 9. Find all points (x,y, z) where f(x,y,z) 5+ 8x 4y+x2+y2 z2has possibl...
#10 and #12
8. Find all points (.y) where fCx.y) -3x2 + 7xy -4y2 + x + y has possible relative maximum or minimum values 9. Find all points (x,y, z) where f(x,y,z) 5+ 8x 4y+x2+y2 z2has possible relativema imun or minimum value 10. Both first partial derivatives of f(x.y)-x-4xyy are zero at the points (0 11. Find all points (x,y) where f(e.y) 2x2+3xy + 5y has possible relative maximum or minimum values. Then, use the 12. Use the second...
4. The demands for a monopolist's two products are determined by the equations p=25 - x and q=24 - 2y, where p and q ar...
4. The demands for a monopolist's two products are determined by the equations p=25 - x and q=24 - 2y, where p and q are prices per unit of the two goods, and x and y are the corresponding quantities. The costs of producing x units of the first good and y units of the other are C(x,y) = 3x + 3xy + y2 (a) Find the monopolist's profit (x,y) from producing and selling x units of the first good...
6. The profit function of a firm is (x,y) = px +qy-ar? - By?, where p...
6. The profit function of a firm is (x,y) = px +qy-ar? - By?, where p and q are the prices per unit and ar? + By are the costs of producing and selling x units of the first good and y units of the other. The constants are all positive. (a) Find the values of x and y that maximize profits. Denote them by x* and y'. Verify that the second-order conditions are satisfied. (1) Define (p, q) =...
1. Consumer’s utility function is: U (X,Y) = 10X + Y. Consumer’s income M is 40...
1. Consumer’s utility function is: U (X,Y) = 10X + Y. Consumer’s income M is 40 euros, the price per unit of good X (i.e. Px ) is 5 euros and the price per unit of good Y (i.e. Py) is 1 euro. a) What is the marginal utility of good X (MUx) for the consumer? ( Answer: MUx = 10) b) What is the marginal utility of good Y (MUy) for the consumer? ( Answer: MUy = 1) c)...
How to solve #7 Suppose that /(x,y)=(x+y2)3. Find s. and at the port az) , supportait atturbanco nennt.yoy, tindhaw.th.he%.anda 7. in a certain suburban community, commuters have the choice of geting...
How to solve #7
Suppose that /(x,y)=(x+y2)3. Find s. and at the port az) , supportait atturbanco nennt.yoy, tindhaw.th.he%.anda 7. in a certain suburban community, commuters have the choice of geting into the ity by bus or train. The demand for these modes of transportation variles with their cost Let /(P.,P) be the number of people who will take the train when p, i the price of the bus ride and py is the price of the train ride. Would...
#3 please!!
2. Given the function f(x, y)-x2 +y -2xy -6x - 2y 5, find the following: (a) Find the critical point(s) of the function. For full credit, show all the algebra to find these and give your answer as ordered pairs. (b) Find the second order partial derivatives and use these to find the determinant of each critical point. Then classify each critical point as a saddle point, relative minimum, or relative maximum point. 3. A wine dealer sells...
B. A firm produces and sells two commodities. By selling x tons of the first commodity the firm gets a price per ton given by p = 96 – 4x. By selling y tons of the other commodity the price per ton is given by q = 84 – 2y. The total cost of producing and selling x tons of the first commodity and y tons of the second is given by C(x, y) = 2x2 + 2xy + y2....
#10 and #12
8. Find all points (.y) where fCx.y) -3x2 + 7xy -4y2 + x + y has possible relative maximum or minimum values 9. Find all points (x,y, z) where f(x,y,z) 5+ 8x 4y+x2+y2 z2has possible relativema imun or minimum value 10. Both first partial derivatives of f(x.y)-x-4xyy are zero at the points (0 11. Find all points (x,y) where f(e.y) 2x2+3xy + 5y has possible relative maximum or minimum values. Then, use the 12. Use the second...
4. The demands for a monopolist's two products are determined by the equations p=25 - x and q=24 - 2y, where p and q are prices per unit of the two goods, and x and y are the corresponding quantities. The costs of producing x units of the first good and y units of the other are C(x,y) = 3x + 3xy + y2 (a) Find the monopolist's profit (x,y) from producing and selling x units of the first good...
6. The profit function of a firm is (x,y) = px +qy-ar? - By?, where p and q are the prices per unit and ar? + By are the costs of producing and selling x units of the first good and y units of the other. The constants are all positive. (a) Find the values of x and y that maximize profits. Denote them by x* and y'. Verify that the second-order conditions are satisfied. (1) Define (p, q) =...
How to solve #7
Suppose that /(x,y)=(x+y2)3. Find s. and at the port az) , supportait atturbanco nennt.yoy, tindhaw.th.he%.anda 7. in a certain suburban community, commuters have the choice of geting into the ity by bus or train. The demand for these modes of transportation variles with their cost Let /(P.,P) be the number of people who will take the train when p, i the price of the bus ride and py is the price of the train ride. Would...
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