A company produces two products in the amount x andy and the respective pricesPx and Px. The two prices are given to bePx = 48-x-yPy = 60 - x - 2yIf the unit cost of producing the first product is 8 and that of producing the secondis 4, what are the production levels x and y that maximize profit? Prove that profitis indeed maximized.

A function f(x,y)f has a relative maximum at the point (a,b) if f(x,y)≤f(a,b) for for all…

Answered: A company produces two products in the…

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

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Similar questions

Find the equilibrium quantity and equilibrium price for the commodity whose supply and demand functions are given as follows: P= 2Q + 20 and P= 200 – 2Q?
n d A bicycle manufacturer makes two models of bikes, a professional racing bike and a mountain bike. Profits average P1500 per mountain bike and P1200 per racing bike. Maximum total production possible is 1440 bikes per month. Consumer demand for the racing bike is no more than half the demand for the mountain bike. At least 400 mountain bikes per month must be made to satisfy a long term contract. How many of each bike should be made to maximize profit. What is the maximum profit?
A product is sold at RM5 a unit. The total cost fimction is given as A. 2000 C(x) 60+1.2x+0.001x where x is the level of output. Find the level of output B. 1700 which will maximize profit. C. 1900 D. 1800
theres four steps but i did the first one, so just do 2,3,&4 An appliance company has determined that the cost of producing ice cream makers is $25.50 per ice cream maker plus $27920 per month in fixed costs. The appliance company sells each ice cream maker for $200. Step 1 of 4: Find the revenue function. 200x Step 2 of 4: Find the cost function. Step 3 of 4: Find the profit function. Step 4 of 4: Find the break-even point.
. If the supply and demand functions for a commodity are given by 8 p − q = 290 and (p+2)q =5720, respectively, find the price that will result in market equilibrium.
Find the number of units, x, that produces the maximum profit P, if C(x) = 45+4x and p = 60 - 2x. A. 14 units B. 4 units C. 56 units D. 16 units
The supply function for a product is given by p=q² + 10q+ 166 and the demand function for this product is p=850 - 10q, where p is the price in dollars and q is the number of hundreds of units. Find the price that gives market equilibrium and the equilibrium quantity. What is the equilibrium price? $
A firm producing two goods "X" and "Y" has the profit function Z = 640X – 20X? + 40XY – 40Y² + 320Y – 140 (a) What are the profit-maximizing level of output for each of the two goods?

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