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Is the function v(x1,x2)=x21x32 a monotonic transformation of u(x1,x2)
?
No
Yes
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- Define a weakly concave on the Cobb-Douglas FunctionFind the optimal solution for the following problem. Maximize C = 4x + 12y subject to 3x + 5y ≤ 12 6x + 2y ≤ 10 and x ≥ 0, y ≥ 0. What is the optimal value of x? What is the optimal value of y? (Round your answer to 3 decimal places.) What is the maximum value of the objective function? (Round your answer to 3 decimal places.)Find the optimal solution for the following problem. Minimize C = 4x + 12y subject to 3x + 5y ≥ 12 6x + 2y ≥ 10 and x ≥ 0, y ≥ 0. What is the optimal value of x? What is the optimal value of y? What is the minimum value of the objective function?
- Consider the following linear program: Maximize 30X + 10Y Subject to: 3X + Y ≤ 300 X + Y ≤ 200 X ≤ 100 Y ≥ 50 X,Y ≥ 0 (a) Solve the problem graphically. Is there more than one optimal solution? Explain. (b) Are there any redundant constraints?Suppose ABC Corp. spends $300,000 per year on some basic level of advertising, regardless of its revenues. In addition, the company spends 25 percent of each dollar of revenue on extra advertising. Write a mathematical equation that describes the functional relation between advertising (A) and revenue (R). A=??? (Enter your response as an expression.)If u(x, y) is a utility function, then v(u) = −u is a function that qualifies monotonic transformation. Do you agree with this statement? Explain!
- For the utility function (x^3)(z^2)Provide a positive linear transformation of the utility function, then, provide a nonlinear monotone transformation of the utility function.A consumer has set a budget of $600 for the consumption of good X and Y. The price of Good X is $20, and the price of good Y is $10. The consumer has a Utility function given by UCX. Y) = x0.60, 0.40 a) Find the optimal solution using a method that does not involves equations and illustrate the.Define Optimization in an indifference curve along with relevant examples?