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3. A firm is sole producer of good x and good y, with the demand equations for X and Y given by x = 200 - Px and y = 100-py where x and y are the quantities of X and Y demanded respectively, and pr and py are their respective prices. The joint cost function of the firm is TC = 2x² + y²+2xy + 25. Determine the quantities of x and y to maximise profits along with their respective prices. Px 4. Suppose F(x, y) = x²y+2y24. Let x(t)=3+2+1 and y(t) = t³ - 7. The function F is 5 defined as F(t) = f[x(t), y(t)]. Compute F'(1) using an appropriate method. Page 1 of 2 8 ] REDMI NOTE 9 S.FRANCIS-KEIL 88

3. A firm is sole producer of good x and good y, with the demand equations for X and Y given by x = 200 - Px and y = 100-py where x and y are the quantities of X and Y demanded respectively, and pr and py are their respective prices. The joint cost function of the firm is TC = 2x² + y²+2xy + 25. Determine the quantities of x and y to maximise profits along with their respective prices. Px 4. Suppose F(x, y) = x²y+2y24. Let x(t)=3+2+1 and y(t) = t³ - 7. The function F is 5 defined as F(t) = f[x(t), y(t)]. Compute F'(1) using an appropriate method. Page 1 of 2 8 ] REDMI NOTE 9 S.FRANCIS-KEIL 88

Linear Algebra: A Modern Introduction
Linear Algebra: A Modern Introduction
4th Edition
ISBN:9781285463247
Author:David Poole
Publisher:David Poole
Chapter2: Systems Of Linear Equations
Section2.4: Applications
Problem 23EQ: 23. Consider a simple economy with just two industries: farming and manufacturing. Farming consumes...
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3. A firm is sole producer of good x and good y, with the demand equations for X and Y given by x = 200 - Px and y = 100-py where x and y are the quantities of X and Y demanded respectively, and pr and py are their respective prices. The joint cost function of the firm is TC = 2x² + y²+2xy + 25. Determine the quantities of x and y to maximise profits along with their respective prices. Px 4. Suppose F(x, y) = x²y+2y24. Let x(t)=3+2+1 and y(t) = t³ - 7. The function F is 5 defined as F(t) = f[x(t), y(t)]. Compute F'(1) using an appropriate method. Page 1 of 2 8 ] REDMI NOTE 9 S.FRANCIS-KEIL 88
Transcribed Image Text:3. A firm is sole producer of good x and good y, with the demand equations for X and Y given by x = 200 - Px and y = 100-py where x and y are the quantities of X and Y demanded respectively, and pr and py are their respective prices. The joint cost function of the firm is TC = 2x² + y²+2xy + 25. Determine the quantities of x and y to maximise profits along with their respective prices. Px 4. Suppose F(x, y) = x²y+2y24. Let x(t)=3+2+1 and y(t) = t³ - 7. The function F is 5 defined as F(t) = f[x(t), y(t)]. Compute F'(1) using an appropriate method. Page 1 of 2 8 ] REDMI NOTE 9 S.FRANCIS-KEIL 88
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