Example The following equations shows the effect of time (x) in year and salt concentration (y) in ppm on the total cost due to corrosion failure for a particular operation 12500 CT = 4x +- + 2.5 y+ 500 ху Determine the optimum value of x and y, and calculate the total cost. Solution 12500 = 0 x?y 12500 3125 4y and 12500 2.5- ду ху? 12500 5000 2.5 y2 Then (3125 2 y 5000 y=20 ppm And x= 0.625 year The total cost will be 20505 at the optimum point H.W Repeat the previous example if the total cost equation is Cr = x? + xy + 2y² + 200

Example The following equations shows the effect of time (x) in year and salt concentration (y) in ppm on the total cost due to corrosion failure for a particular operation 12500 CT = 4x +- + 2.5 y+ 500 ху Determine the optimum value of x and y, and calculate the total cost. Solution 12500 = 0 x?y 12500 3125 4y and 12500 2.5- ду ху? 12500 5000 2.5 y2 Then (3125 2 y 5000 y=20 ppm And x= 0.625 year The total cost will be 20505 at the optimum point H.W Repeat the previous example if the total cost equation is Cr = x? + xy + 2y² + 200

Survey Of Economics

10th Edition

ISBN:9781337111522

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter6: Proudction Costs

Section: Chapter Questions

Problem 8SQP

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