1. Unconstrained optimization: (a) Find the values for x1, x2, x3 which maximize the function f(x)=1+x12x-x-3x3. (b)...
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1. Unconstrained optimization:
(a) Find the values for x1, x2, x3 which maximize the function f(x)=1+x12x-x-3x3.
(b) If a monopolistic firm has a linear inverse demand function of the form p = 100-q where p is price (in ) and q is the number of units of output sold, and the firm has a constant marginal cost of 10 per unit, what is the revenue-maximizing output and price? What is the profit-maximizing output and price?
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Related Book For
Managerial Economics Firms Markets And Business Decisions
ISBN: 9780198775706
1st Edition
Authors: Ian M. Dobbs
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