Consider the profit getting from selling x and y units of two commodities is given by as follows: i. P(x, y) = −0.1x2 - 0.2xy - 0.2y2 + 47x + 48y - 600. Find out the production levels for x and y that maximizes the profit. ii. Now assume that the total production is limited to 200 units. Find out the production levels that maximizes the profits
Consider the profit getting from selling x and y units of two commodities is given by as follows: i. P(x, y) = −0.1x2 - 0.2xy - 0.2y2 + 47x + 48y - 600. Find out the production levels for x and y that maximizes the profit. ii. Now assume that the total production is limited to 200 units. Find out the production levels that maximizes the profits
Chapter14: Environmental Economics
Section: Chapter Questions
Problem 16SQ
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Consider the profit getting from selling x and y units of two commodities is
given by as follows:
i. P(x, y) = −0.1x2 - 0.2xy - 0.2y2 + 47x + 48y - 600. Find out the
production levels for x and y that maximizes the profit.
ii. Now assume that the total production is limited to 200 units. Find out the
production levels that maximizes the profits.
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