Question
Questions 1-5 relate to the following function of x and y: z(x,y) = 64 - 2x^2 + 4xy - 4y^2 + 32y - 20. What
Questions 1-5 relate to the following function of x and y: z(x,y) = 64 - 2x^2 + 4xy - 4y^2 + 32y - 20. What is the optimal value of x?
Q2. What is the optimal value of y?
Q3. What is the value of the second derivative with respect to x at the solution?
Q4. What is the value of the second derivative with respect to y at the solution?
Q5. Based on the above two answers, the turning point is a: A. Maximum B. Minimum
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Managerial Economics Theory Applications and Cases
Authors: Bruce Allen, Keith Weigelt, Neil A. Doherty, Edwin Mansfield
8th edition
978-0393124491, 393124495, 978-0039391277, 393912779, 978-0393912777
