Question: In Example 1, the maximum production is obtained when 2y = x no matter what the budget is. Assume the current values for x and

In Example 1, the maximum production is obtained when 2y = x no matter what the budget is. Assume the current values for x and y are those that maximize production.
(a) If you increase x by 3000, by how much should you increase y if production is to remain maximal?
(b) If you double x, how should you change y for production to remain maximal?
(c) If you increase x by 5%, by what percent should you change y for production to remain maximal?

Step by Step Solution

★★★★★

3.36 Rating (168 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

We use the equation y x2 to find how much to chang... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Applied Calculus Questions!

List three specific parts of the Case Guide, Objectives and Strategy Section (See below) that you had the most difficulty understanding. Describe your current understanding of these parts. Provide...

Planning is one of the most important management functions in any business. A front office managers first step in planning should involve determine the departments goals. Planning also includes...

KYC's stock price can go up by 15 percent every year, or down by 10 percent. Both outcomes are equally likely. The risk free rate is 5 percent, and the current stock price of KYC is 100. (a) Price a...

2/28/2017 Sections 11.5 - 12.2 Dustin Kelly MTH 217, section 22318443, Spring 2017 Instructor: Daniel Sievewright WebAssign Sections 11.5 12.2 (Homework) Current Score : - / 81 Due : Thursday, March...

Explain all the attachment 2. There is two goods X and Y. Their demand function is following; X=144-Px and Y=250-2Py the production quota is 2X+2Y=80 where cost of production is; C=2x2+ 2y-+ 2xy +...

Describe how to construct the function cpo ((D E), v) of two cpos (D, vD) and (E, vE). Prove that ((D E), v) is a cpo. (You may use facts about least upper bounds provided you state them clearly.)...

Capacity Management Definition (Capacity): - Ability of an organization to provide the customers the goods and services they demand. Capacity Measure: - 1. Rate of output (Example: Production output...

Probability and Statistics - Problem Set c Keith M. Chugg October 2, 2015 1 Preliminaries, Combinatorics, Set Probability 1.1. A number of bats are in a cave. 2 bats can see out of their left eye. 3...

The Bolded words are the questions asked!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! Question 1) The Sea Wharf Restaurant would like to determine the best way to allocate a monthly...

Applied Mathematics and Computation 95 (1998) 181192 Love dynamics: The case of linear couples Sergio Rinaldi 1 Centro Teoria dei Sistemi, CNR, Politecnico di Milano, Via Ponzio 34/5, 20133 Milan,...

What product will be obtained for the below reaction: CH3 -? H;C-C=CH2 I-CI CH3 CH3 () H;C-C-CH2-CI () H3C-C-CH2-I CI CH3 CH3 () H;C-C-CH3 (D) H,H +

A taxpayer faces the following MTRs for labor income: The taxpayer can earn $10 per hour. In the absence of any taxes, he would work an average of eight hours a day. Show how the tax affects his...

44. LO.8 Christie is the preparer of the Form 1120 for Yostern Corporation. On the return, Yostern claimed a deduction that the IRS later disallowed on audit. Compute the tax preparer penalty that...

The corrosion depth of four samples taken from a steel I beam are 72, 217, 145, and 259 mils. Assuming an interest in being 90% certain, use a confidence interval to decide whether or not the true...

What is the specificity of the VAS? Orthopedics Piriformis syndrome is a pelvic condition that involves malfunction of the piriformis muscle (a deep buttock muscle), which often causes back and...

The cutoff points of ¥ 5 for a VAS test-positive and ¤ 4 for a VAS test-negative are arbitrary. Compute and graph the ROC curve for the VAS test by varying the cutoff point for a...

The area under the ROC curve is 65%. What does it mean? Orthopedics Piriformis syndrome is a pelvic condition that involves malfunction of the piriformis muscle (a deep buttock muscle), which often...

Tanner, Inc. reports the following information: \ table [ [ Units produced, 2 3 0 units ] , [ Units sold, 2 3 0 units ] , [ Sales price,$ 2 9 0 per unit ] , [ Direct materials,$ 3 9 per unit ] , [...

The risk-free rate is 3.76% and the market risk premium is 8.02%. A stock with a of 0.90 just paid a dividend of $2.39. The dividend is expected to grow at 22.08% for three years and then grow at...

Jeffrey Boyd, the president of Eagle Furniture Company (average annual gross receipts of $4 million), has prepared the companys financial statements and income tax returns for the past 15 years. In...