You are a drug smuggler. Your profit depends on how many bales of marijuana (M) and...
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You are a drug smuggler. Your profit depends on how many bales of marijuana (M) and blocks of cocaine (C) you can smuggle into the country. Specifically, your profit function can be expressed as: π = 680C - 3C 2 +224M-2M2+ MC - 5000 A. Find the unconstrained solution for how much of each kind of drug you should smuggle. Now suppose that you are constrained in your choice by the capacity of the secret compartment in your plane. It can only fit 250 cubic feet of drugs, and each M takes up 2 cubic feet, and each C takes up 1 cubic foot. B. Construct a math expression for the constraint. C. Construct the Lagrangian function for this problem. D. Find the optimal constrained amounts. Decimals/fractions are fine. E. If you could increase the capacity by one unit for $72, should you do it? Explain You are a drug smuggler. Your profit depends on how many bales of marijuana (M) and blocks of cocaine (C) you can smuggle into the country. Specifically, your profit function can be expressed as: π = 680C - 3C 2 +224M-2M2+ MC - 5000 A. Find the unconstrained solution for how much of each kind of drug you should smuggle. Now suppose that you are constrained in your choice by the capacity of the secret compartment in your plane. It can only fit 250 cubic feet of drugs, and each M takes up 2 cubic feet, and each C takes up 1 cubic foot. B. Construct a math expression for the constraint. C. Construct the Lagrangian function for this problem. D. Find the optimal constrained amounts. Decimals/fractions are fine. E. If you could increase the capacity by one unit for $72, should you do it? Explain
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Related Book For
Microeconomics An Intuitive Approach with Calculus
ISBN: 978-0538453257
1st edition
Authors: Thomas Nechyba
Posted Date:
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