Can you help with question 1? EMS FOR SECTION 3.11. Show that8(x, y) = x'+y' - 3x - 2y defined for x > 0, y > 0is strictly convex, and find its (global) minimum value.2. A firm produces two output goods, denoted by A and B. The cost per day isC(x, y) 0.04x² -0.01xy +0.01y +4x +2y +500when x units ofA and y units of B are produced (x > 0, y > 0). The firm sells all it producesat prices 13 per unit of A and 8 per unit of B. Find the profit function r (x, y) and the values ofx and y that maximize profit.SN 3. (a) Referring to Example 2, solve the problem max pv"v-91u1-92vz.1/3 1/2(b) Let n (p, q1, 92) denote the value function. Verify the equalities in (*) in Example 4 forthis case.SECTION 3.2 / LOCAL EXTREME POINTS111of f that is neither a local maximum point nor a local minimum point is called a saddlepoint of f. Thus, arbitrarily close to a saddle point, there are points with both higher andlower values than the function value at the saddle point. Figure 1 illustrates these conceptsin the case of a function of two variables.

Name: Can you help with question 1? EMS FOR SECTION 3.11. Show that8(x, y) =
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Description: Can you help with question 1? EMS FOR SECTION 3.11. Show that8(x, y) = x'+y' - 3x - 2y defined for x > 0, y > 0is strictly convex, and find its (global) minimum value.2. A firm produces two output goods, denoted by A and B. The cost per day isC(x, y)