FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!
Question
1 Approved Answer

For the following total profit function of a firm, where X and Y are two goods sold by the firm: Profit = 170X 5X

For the following total profit function of a firm, where X and Y are two goods sold by the firm:

Profit = 170X – 5X2 –XY -4Y2 +175Y -225

Do a problem with a constraint of X + Y =30.

  2. Use the constraint equation to find an equation for X in terms of Y (X = 30 – Y) or an equation for Y in terms of X.
  4. Substitute the equation into the total profit equation at every place you find X (or Y)
  6. Set the derivative equal to zero and solve for X (or Y)
  8. Plug the result from part c into the constraint equation to get the other variable.
  10. Calculate the total profit.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

To solve the problem with the given profit function and constraint lets follow the steps Step 1 Use ... 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_2

Step: 3

blur-text-image_3

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

A Balanced Introduction to Computer Science
A Balanced Introduction to Computer Science

Authors: David Reed

3rd edition

132166755, 978-0132166751

More Books

Students explore these related Economics questions

Question

Let A, B be sets. Define: (a) the Cartesian product (A B) (b) the set of relations R between A and B (c) the identity relation A on the set A [3 marks] Suppose S, T are relations between A and B, and...

Answered: 3 weeks ago

Question

PLEASE GIVE CORRECT ANSWERS Prove that the number of comparators in any sorting network is (n log n). [4 marks] (ii) What does Part (d)(i) imply in terms of the depth of any sorting network? [1 mark]...

Answered: 3 weeks ago

Question

cck3 java help them all If a processor exhibited one branch delay slot how would you reorder (and possibly modify) the instructions in the following loop to gain a performance advantage? loop ldr...

Answered: 3 weeks ago

Question

A potential difference of 1.20 V will be applied to a 33.0 m length of 18-gauge copper wire (diameter = 0.0400 in.). Calculate (a) The current, (b) The magnitude of the current density, (c) The...

Answered: 3 weeks ago

Question

Rita is a self-employed taxpayer who turns 39 years old at the end of the year (2015). In 2015, her net Schedule C income was $300,000. This was her only source of income. This year, Rita is...

Answered: 3 weeks ago

Question

1. Why do you think it's important to pick a topic that is important or interesting to the speaker? What are some ways to choose a speech topic? What do you find to be interesting beginnings of...

Answered: 3 weeks ago

Question

1. Think for a moment about some aspect of human behavior that has piqued your curiosity in recent days. Perhaps you observed an aggressive driver or children playing a game. Formulate a question...

Answered: 3 weeks ago

Question

You have just been hired as a new management trainee by Earrings Unlimited, a distributor of earrings to various retail outlets located in shopping malls across the country. In the past, the company...

Answered: 3 weeks ago

Question

Week 42 Accounting Exercises 4 Sta Che Consider the following transactions for Huskies Insurance Company 1. Income taxes for the year total $42.000 but won't be peut pr 2. On June 30, the company...

Answered: 3 weeks ago

Question

Antonia Clark, the Senior Marketing Manager of Tough Mudder, talks about how operations teams, creative teams, and merchandising teams have to work collaboratively to put on events. If she assigned...

Answered: 3 weeks ago

Question

Question 5 Tries remaining: 1 Marked out of 5.00 Flag question Analyzing Derivatives and Hedging For each of the following, indicate whether the hedge would be classified as a fair value hedge or a...

Answered: 3 weeks ago

Question

With complete solution please and explanation. Management of the New Fangled Soft drink Company believes that the probability of a customer purchasing Red Pop or the company's major competition,...

Answered: 3 weeks ago

Question

4. By using the "Virtual Work" principle; determine the slope of point A of the below given beam. E=29 x 106 Psi A 400 lb 400 lb-ft La B IC -8 ft- 4 ft 3 in. 6 in. Section a a

Answered: 3 weeks ago

Question

Use Each given circle O. Find the indicated measures 11. mZA 12. mZE GJM-M (2x+12) E (4x-8) E-(4x-8)8800 D AN is a diameter. O AWAY Exm J

Answered: 3 weeks ago

Question

Misusing Forensics Tools Your research on the kinds of tools necessary to conduct the proper forensics investigations has convinced you of the power of these tools. It will be essential to provide...

Answered: 3 weeks ago

Question

Contrast the level of security in a hotel that uses a hard-key system with that in a hotel that uses an electronic key or smart card system

Answered: 3 weeks ago

Question

Suppose a firm's value of assets is $50 million with standard deviation of 20%. The only bond the firm has outstanding is for a face value of $60 million and has the term of 10 years. The risk free...

Answered: 3 weeks ago

Question

A number of years ago the United Food and Commercial Workers Union organized 800 workers of the 1035 employees at one of the Wilson Brothers food operations in Toronto, Ontario. The employees include...

Answered: 3 weeks ago

Question

Modify your cipher.html page from Exercise 15.15 so that it implements a rotating substitution cipher. [This should require only minimal changes to the code. After each character in the message has...

Answered: 3 weeks ago

Question

What sequence of machine-language instructions would cause the contents of the four registers to be copied into memory locations 7, 8, 9, and 10, respectively?

Answered: 3 weeks ago

Question

Create a Web page named bus.html can be used to display verses of "The Wheels on the Bus." Similar to the oldmac.html page from Exercise 9.3, your page should define a function named BusVerse that...

Answered: 3 weeks ago

Question

If money can earn 6.5% compounded annually for the next 20 years, which of the following annuities has the greater economic value today: $1000 paid at the end of each of the next 10 years, or 10...

Answered: 3 weeks ago

Question

You can purchase a residential building lot for $90,000 cash, or for $20,000 down and quarterly payments of $5000 for four years. The first payment would be due three months after the purchase date....

Answered: 3 weeks ago

Question

Annuity G has the same i and PMT as Annuity H. G has twice as many payments as H. Is Gs present value (pick one): (i) double, (ii) more than double, or (iii) less than double the amount of Hs present...

Answered: 3 weeks ago

Previous Question Next Question