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An insurance company's monthly profit P(x, y), in thousand dollars, depends on the amount of money x (in thousands of dollars) spent on advertising per
An insurance company's monthly profit P(x, y), in thousand dollars, depends on the amount of money x (in thousands of dollars) spent on advertising per month and the number of sales associates y in its employ. Answer the following questions considering the given information: P(8, 25) = 93.5 partial differential p/partial differential x|_(8, 25) = 2.6 partial differential p/partial differential y|_(8, 25) = -1.2 Find the value of dy/dx|_(8, 25). Estimate the staffing change needed to compensate for a loss of $1, 800 in advertising per month if the agency still wished to bring in a monthly profit of $93, 500. Find the value of dx/dy|_(8, 25). Estimate the change in the advertising budget necessary to maintain a monthly profit of $93, 500 if the insurance hires 5 new sales associates
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