Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The yield Y, in kg, of corn as a function of the nitrogen N and phosphorus P (measured in kg) added by a farmer is

The yield Y, in kg, of corn as a function of the nitrogen N and phosphorus P (measured in kg) added by a farmer is Y(N, P) = KNP-N-P where k is a positive constant. The cost of nitrogen and phosphorus is $1 per kg. Suppose that a farmer spends exactly $1 on nitrogen and phosphorus together per m? of land. (a) Write down the partial derivates of Y (N, P). (b) Write down the constraint function, g(N, P). (Hint: this is the total amount the farmer spends on nitrogen and phosphorus per m2). (c) How much nitrogen and phosphorus should the farmer use per m2? (d) When In(k) = 1, what is the maximum yield of the crop per m? subject to the constraint above?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Income Tax Fundamentals 2013

Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill

31st Edition

1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516

Students also viewed these Mathematics questions