Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

1 point) The function is the revenue function for selling widgets and gizmos with demand price functions PriceGizmos=3050QuantinGiumss300QmantioWidgetsPriceWidgets=2040Q50500300 and, P1=( QuanityGizmos, QuantityWidgets )=(1000,500) and P2=(1050,575)

image text in transcribed
1 point) The function is the revenue function for selling widgets and gizmos with demand price functions PriceGizmos=3050QuantinGiumss300QmantioWidgetsPriceWidgets=2040Q50500300 and, P1=( QuanityGizmos, QuantityWidgets )=(1000,500) and P2=(1050,575) a. Give the revenue function of two variables . (Use the variables QW and QG) Revenue(QG,QW)= b. Give the 2 functions of one variable through P1 obtained by holding each variable constant. (Use the variables QW and QG ) Revenue (1000,QW)= Revenue (QG,500)= c. Find the partial derivatives of the original function. (Use the variables QW and QG) Revenue QG(QG,QW)= RevenueQW(QG,QW)= d. Evaluate the partial derivatives at P1. Revenue oo(1000,500)= e. Give the equation of the tanoent plane through P1. (Use the variables QW and QG ) LinearRev (QG,QW)= 1. The approximation at P2 phtained from the tancent plane. LinearRev (1050,575)=

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

New Approach To Financial Accounting No Need Of Cramming Formats

Authors: Samuel A. Olowoniyi ACA

1st Edition

148253150X, 978-1482531503

More Books

Students also viewed these Accounting questions