company has S300,000 spend on two products. Suppose by the company from x units of the first product and y units of the second product is given by Show that U is homogenous to some degree . Show that Euler's Theorem holds for the function U(x,y).

Elements Of Modern Algebra
8th Edition
ISBN:9781285463230
Author:Gilbert, Linda, Jimmie
Publisher:Gilbert, Linda, Jimmie
Chapter8: Polynomials
Section8.5: Solution Of Cubic And Quartic Equations By Formulas (optional)
Problem 29E
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(a) A company has $300,000 to spend on two products. Suppose that the Utility derived
by the company from x units of the first product and y units of the second product is
given by
(i)
Show that U is homogenous to some degree .
(ii)
Show that Euler's Theorem holds for the function U(x.y).
(b) Evaluate
SŠ S, 4xy dxdy
(c ) Given the function f(x) = (x-2)² + (y-3)²
(1)
Find the critical points.
(ii)
Using the second derivative test, Classify the critical points .
Transcribed Image Text:(a) A company has $300,000 to spend on two products. Suppose that the Utility derived by the company from x units of the first product and y units of the second product is given by (i) Show that U is homogenous to some degree . (ii) Show that Euler's Theorem holds for the function U(x.y). (b) Evaluate SŠ S, 4xy dxdy (c ) Given the function f(x) = (x-2)² + (y-3)² (1) Find the critical points. (ii) Using the second derivative test, Classify the critical points .
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