A firm's total cost function is: C = 5x2 + 2xy + 3y2 + 800, subject to the production quota x + y = 39. Construct the Lagrange function and solve for the equilibrium values. Calculate the total cost. a)What is the equilibrium value of λ? b)What is the optimized value of cost? c)What is the value of the determinant of the Hessian matrix?
A firm's total cost function is: C = 5x2 + 2xy + 3y2 + 800, subject to the production quota x + y = 39. Construct the Lagrange function and solve for the equilibrium values. Calculate the total cost. a)What is the equilibrium value of λ? b)What is the optimized value of cost? c)What is the value of the determinant of the Hessian matrix?
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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A firm's total cost function is: C = 5x2 + 2xy + 3y2 + 800, subject to the production quota x + y = 39.
Construct the Lagrange function and solve for the equilibrium values. Calculate the total cost.
a)What is the equilibrium value of λ?
b)What is the optimized value of cost?
c)What is the value of the determinant of the Hessian matrix?
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