Question

“Find the critical values at which each firm’s total cost C is minimized, given the production...

“Find the critical values at which each firm’s total cost C is minimized, given the production quotas that must be fulfilled:

(b) C = 12x2 − 4xy + 7y2 + 945, subject to x + y = 69
(c) C = 9x2 − 6xy + 13y2 + 775, subject to x + 4y = 362”

Homework Answers

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
“Find the critical values at which each firm’s profit π is maximized, given the production limitations...
“Find the critical values at which each firm’s profit π is maximized, given the production limitations in parentheses that cannot be exceeded: (a) π = 145x − 5x2 − 2xy − 8y2 + 201y − 325 (x + y = 37)” ans (a) (21, 16) “(b) π = 440x − 7x2 − 3xy − 4y2 + 445y − 295 (x + y = 49)”
The output production function of a firm and its cost function are given, respectively, by Q(x,...
The output production function of a firm and its cost function are given, respectively, by Q(x, y) = 7x2 + 7y2 + 6xy and C(x, y) = 4x3 + 4y3where x and y are the productive inputs. Knowing that the selling price of a unit of good is 3 ., find the maximum point for both productive inputs, x and y, to achieve the maximum profit. a (10,5) b (5,10) c (10,10) d (5,5) Solve the output production maximizing problem...
find the critical values at which a firms profit P is maximized, given the following demand...
find the critical values at which a firms profit P is maximized, given the following demand and total cost functions P1 = 1532-13x P2 = 1396-8y C(x,y) = 4x^2 + 7xy + 5y^2 + 624
Calculate the Y values corresponding to the X values given below. Find the critical values for...
Calculate the Y values corresponding to the X values given below. Find the critical values for X for the given polynomial by finding the X values among those given where the first derivative, dy/dx = 0 and/or X values where the second derivative, d­2y/dx2 = 0.    Be sure to find the sign (+ or -) of dy/dx and of d2y/dx2 at all X values. Reference Lesson 13 and the text Appendix A (pp 694 – 698), as needed. Using the...
Calculate the Y values corresponding to the X values given below. Find the critical values for...
Calculate the Y values corresponding to the X values given below. Find the critical values for X for the given polynomial by finding the X values among those given where the first derivative, dy/dx = 0 and/or X values where the second derivative, d­2y/dx2 = 0. Be sure to indicate the sign (+ or -) of dy/dx and of d2y/dx2 tabled values. Reference Power Point Lesson 13 as needed. Using the first and second derivative tests with the information you...
total revenue and total cost functions for the production and sale of xTV's are given as...
total revenue and total cost functions for the production and sale of xTV's are given as R(x)=130x−0.7x2 and C(x)=3950+21x. (A) Find the value of x where the graph of R(x)R(x) has a horizontal tangent line. xvalues is equation editor Equation Editor (B) Find the profit function in terms of x. P(x)= equation editor Equation Editor (C) Find the value of xx where the graph of P(x) has a horizontal tangent line. x values = equation editor Equation Editor (D) List...
3) Suppose a firm’s cost function is C(q) = 3q2 (2 squared) + 15. a. Find...
3) Suppose a firm’s cost function is C(q) = 3q2 (2 squared) + 15. a. Find variable cost, fixed cost, average cost, average variable cost, and average fixed cost.(Hint: Marginal cost is given by MC = 6q.) b. Find the output that minimizes average cost. :4) Suppose that a firm’s production function is q = x0.5 in the short run, where there are fixed costs of $1,000, and x is the variable input whose cost is $1,000 per unit. What...
1.Consider the following consumption function and the national income identity. C=0.01Y2 +0.8+200 Y=C+S Where, C is...
1.Consider the following consumption function and the national income identity. C=0.01Y2 +0.8+200 Y=C+S Where, C is consumption and Y is national income, and S is saving Calculate the value of marginal propensity to consume (MPC) when Y=8 Find the expression for savings function and using that function calculate marginal propensity to save (MPS) when Y= 8. 2. Consider the supply equation given below: Q=7+0.1P + 0.004 P2 Find the price elasticity of supply if the current price is 80. Is...
A firm produces two commodities, A and B. The inverse demand functions are: pA = 900−2x−2y,...
A firm produces two commodities, A and B. The inverse demand functions are: pA = 900−2x−2y, pB = 1400−2x−4y respectively, where the firm produces and sells x units of commodity A and y units of commodity B. Its costs are given by: CA = 7000 + 100x + x^2 and CB = 10000 + 6y^2 (a) Show that the firms total profit is given by: π(x,y) = −3x2 −10y2 −4xy + 800x + 1400y−17000. (b) Assume π(x,y) has a maximum...
A firm produces two commodities, A and B. The inverse demand functions are: pA =900−2x−2y, pB...
A firm produces two commodities, A and B. The inverse demand functions are: pA =900−2x−2y, pB =1400−2x−4y respectively, where the firm produces and sells x units of commodity A and y units of commodity B. Its costs are given by: CA =7000+100x+x^2 and CB =10000+6y^2 where A, a and b are positive constants. (a) Show that the firms total profit is given by: π(x,y)=−3x^2 −10y^2 −4xy+800x+1400y−17000. (b) Assume π(x, y) has a maximum point. Find, step by step, the production...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT