Suppose that the profit (in hundreds of dollars) of a certain firm is approximated by P(x, y) 1500 36x 1 5x 2 120y 2y 2 , where x is the cost of a unit of labor and y is the cost of a unit of goods Find values of x and y that maximize profit Find the maximum profit ...

Therefore 12 30 is a critical point Since P xx 3 0 there ...

Suppose that the profit (in hundreds of dollars) of a certain firm is approximated by P(x, y)

Question:

Suppose that the profit (in hundreds of dollars) of a certain firm is approximated by P(x, y) = 1500 + 36x - 1.5x² + 120y - 2y², where x is the cost of a unit of labor and y is the cost of a unit of goods. Find values of x and y that maximize profit. Find the maximum profit.

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