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I would like to know how to do the CES production functions along with find global maximum and minimum for the following 7. Do parts
I would like to know how to do the CES production functions along with find global maximum and minimum for the following
7. Do parts (iii) and (iv) of question 6 for the general CES production function y= f(x,*2)= A[ox,' +(1-8)x7] , A>0,0-1, defined on R 8. In the constant elasticity of substitution (CES) production function q = A[8KP + (1 - 6)LP]1/P, find the degree of homogeneity of the marginal product of capital MP and the marginal product of labour MP . Show also that Euler's Theorem applies. 9. Find the global maximum and minimum values of (1) f(x) = 6vx - 3x on [0,9] (ii) F(x) = 6Vx - 4x on [0, 4] (iii) H(x) = |x2 - 1| on [-2,2] (iv) f(x) = 3x4 - 4x3 on [-2,3] 10. Find the Euclidean distance between the given points. (i) 6 and -8 in R (ii) (3, -4) and (-4, -5) in R? (iii) (-1, 4, 9) and (1, 2, -9) in R3 (iii) (2, -3, -5, 0) and (1, -4, 0, -3) in R* 11. Describe the following & - neighbourhoods. (i) N. (9) (ii) N, [(-1,5)] (iii) N. [(9,2, -1)] 12. Find the stationary points and determine if each stationary point gives a local/global maximum or local/global minimum, neither, or "can't tell". (i) f(xx2.x,)=x+2x3 +x3+xx2 -2x, -7x, +12 (ii) f(x,,*2,x,)= 2x, - x, +10x, -x; +3x, -x3 )f(x,x,,x,) = 3-x-2x, - 3.x; - 2.x,x2 - 2.x,x, (iv) f (x, y) = x4+ x2 - 6xy + 3y2 (v) f ( x, y ) = xyl + xly- xy (vi) f(x,y) = 3x4+ 3xly -y3 (vii) f(X1,*2,X3, x4) = 24x1 + 32x2 + 48x3 + 72x4 - (x] + x} + 2x} +3x])Step by Step Solution
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