A company produces two products. The revenue made by selling q₁ units of the first product and q2 units of the second product is given by r(9₁,92)=√√9₁² + 92² − 29192 +69₁ . The current production consists of 10 units of the first product and 12 units of the second product. a) Calculate (10,12) and - (10,12). Ər 292 b) The company will increase the production of the first product by 0.5 units and decrease the production of the second product by 1 unit. Do you expect the company to have a higher or a lower revenue? Use your answer to a)! Ər 0q1 c) We can approximate the given revenue function by a linear function f (91, 92) for values (91, 92) which are close to (10,12). Find the equation of this linear function and use this function to estimate the

A company produces two products. The revenue made by selling q₁ units of the first product and q2 units of the second product is given by r(9₁,92)=√√9₁² + 92² − 29192 +69₁ . The current production consists of 10 units of the first product and 12 units of the second product. a) Calculate (10,12) and - (10,12). Ər 292 b) The company will increase the production of the first product by 0.5 units and decrease the production of the second product by 1 unit. Do you expect the company to have a higher or a lower revenue? Use your answer to a)! Ər 0q1 c) We can approximate the given revenue function by a linear function f (91, 92) for values (91, 92) which are close to (10,12). Find the equation of this linear function and use this function to estimate the

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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