Question: Q. No.4. a) The profit function and maximum output capacity of a firm are given, how many quantities of x and y the firm should

Q. No.4. a) The profit function and maximum output capacity of a firm are given, how many quantities of x and y the firm should produce that its profit be maximized, The given profit function = n = 80x - 2x- - xy - 3y + 100y The production efficiency constraint: x + y = 12. b) Given Q = 100 -2P + 0.02Y, where P = 100 and Y = 5000, find the i- Price Elasticity of Demand ii- income Elasticity of Demand with the help of graphical representation (Marks/6)Q. No.4. a) The profit function and maximum output capacity of a firm are given, how many quantities of x and y the firm should produce that its profit be maximized, The given profit function = n = 80x - 2x- - xy - 3y + 100y The production efficiency constraint: x + y = 12. b) Given Q = 100 -2P + 0.02Y, where P = 100 and Y = 5000, find the i- Price Elasticity of Demand ii- income Elasticity of Demand with the help of graphical representation (Marks/6)

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