What is the maximized value of the function

Assignment Help Business Economics
Reference no: EM131000223

Suppose that you want to maximize the value of the function f(x) = x^3-6x^2+9x, subject to 0 less than or equal x less than or equal 5.

(a) Which value(s) of x satisfy the first-order condition for this maximization problem?

(b) Which value(s) of x are boundary points?

(c) Which value(s) of x solve the maximization problem?

(d) What is the maximized value of the function?

Now suppose you want to minimize the value of the function, subject to 0 less than or equal x less than or equal 5.

(e) Which value(s) of x solve the minimization problem?

(f) What is the minimized value of the function?

Reference no: EM131000223

Questions Cloud

The levels of plasma glucose of a healthy human fluctuates : (1)  The levels of plasma glucose of a healthy human fluctuates between 70-140 mg/dL. For this problem use an average of 105 mg/dL for the concentration of plasma glucose. Using this information, how much glucose is in 2.4 L of plasma of a healthy hu..
In a perfectly competitive market for electricity : In a perfectly competitive market for electricity, consumers’ benefit (in dollars) from consuming electricity is given by B(Q)= -Q2+1000 Q, where Q is the unit of electricity consumed. Derive the demand for electricity in this market.
Determine ending inventory and cost of goods sold : Lance-Hefner Specialty Shoppes decided to use the dollar-value LIFO retail method to value its inventory. Accounting records provide the following information:
What the change in its total revenue from grapefruit sales : Rolf's supermarkets now sell 12,000 lbs of grapefruit per week at a price of $0.45 per pound. An economist has reported to management that the arc elasticity of demand for the grapefruit over the price range $0.45 to $0.35 per pound is -2.0. If Rolf'..
What is the maximized value of the function : Suppose that you want to maximize the value of the function f(x) = x^3-6x^2+9x, subject to 0 less than or equal x less than or equal 5. Which value(s) of x satisfy the first-order condition for this maximization problem? What is the maximized value o..
When both firms set quantity and reaction function : Wolfe and Baker are the only two firms producing door stopers because of such a small market in their area. Both firms are profit maximizing, have a marginal cot of $8 (MC = $8) and have no fixed costs (FC = $0). When both firms set quantity, Wolfe's..
Satisfy first-order condition for this maximization problem : Suppose that you want to maximize the value of the function f(x) = 8x^2 - x4. Which value(s) of x satisfy the first-order condition for this maximization problem? Which value(s) of x are boundary points? Which value(s) of x solve the maximization pro..
Bosco company adopted the dollar value lifo retail method : Bosco Company adopted the dollar-value LIFO retail method at the beginning of 2011. Information for 2011 and 2012 is as follows, with certain data intentionally omitted:
Briefly point out the faulty reasoning : Briefly point out the faulty reasoning in each of the following situations: You win a free, nontransferable ticket to a Sheryl Crow concert. Since the ticket is free and it will therefore cost you nothing to go, you decide to go to the concert.

Reviews

Write a Review

Business Economics Questions & Answers

  What are some criteria which rollerblade

Illustrate what are some criteria which Rollerblade should use to select countries to enter also. Illustrate what three or four countries meet these criteria best also are the most likely consolidates.

  Q1 bmme5103 2 forgone entrepreneurial income to be 10000 a

q1. bmme5103 2 forgone entrepreneurial income to be 10000 a year. she used 500000 in savings that earned 5 percent

  Capitalized cost of expenditures

What reliance performance would be measured efficient. Elucidate reliance behavior which would be considered excessive.

  Sweden receives a great deal of attention from economists

Sweden receives a great deal of attention from economists in part because

  In the specific-factors model an increase in the price

In the specific-factors model, an increase in the price of the manufactured good will cause:

  Elucidate how a temporary decrease in the us money supply

Elucidate how a temporary decrease in the U.S. money supply affects the money and FOREX markets. Label your short-run equilibrium point B and your long-run equilibrium.

  Quantity demanded for windows system

Suppose that the quantity demanded for Windows 7 system is given by Q = 320 − 2P, where P is the price of the Windows 7. Let us assume that the total cost of producing Q units of Windows 7 is given by C(Q) = 500 + 0.5Q2. What is the price that Micros..

  Using relevant international marketing concepts

Using relevant international marketing concepts? Critically analyse the claim that a glocalised marketing approach is the key to success for international companies

  Produces its monopoly quantity in equilibrium

In a Stackelberg industry with identical firms we know that firm 1, the leader, produces its monopoly quantity in equilibrium. Given this, does the Stackelberg leader necessarily earn a higher profit than the Stackelberg follower? Explain.

  Electoral votes to win the election

Electoral College system take a country named know land that has. Suppose there are 9 small states in know land where each have 1 million people in.

  Two sectors exhibiting constant returns to scale technology

Consider again the case analyzed in class with two sectors exhibiting constant returns to scale technology (sector A is capital intensive and sector T is labor intensive). Suppose there is a neutral technological change in sector T only (no technolog..

  Binding price ceiling

A binding price ceiling...

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd