Beruflich Dokumente
Kultur Dokumente
Tutorhelpdesk
David Luke
Contact Us:
Phone: (617) 807 0926
Web: http://www.tutorhelpdesk.com
Email: - info@tutorhelpdesk.com
Facebook: https://www.facebook.com/Tutorhelpdesk
Twitter: http://twitter.com/tutorhelpdesk
Blog: http://tutorhelpdesk.blogspot.com/
Tutorhelpdesk
Question-1:
Solution:
= 0. This means,
x=
Now
or x =1
(3 2 - 4x + 4) = 6x -4
(a) When x = ,
=6
1
3
max.
y=
=
-2
+6
+6=
++
Tutorhelpdesk
Tutorhelpdesk
2
2
Hence, the given function is at minimum when x =1 and the minimum value is given by
Min.
Y= 1
-2 (2)2 + 1+ 6
= 1 -2 + 1 + 6 =6.
Question-2:
Y=
- 6x + 8.
Solution:
Given, Y =
- 6x + 8.
- 6
(x) +
(8)
= 0.
3
2
Tutorhelpdesk
Now,
(i)
(2 2 + x -6) = 4x + 1
When x = -2,
Hence, the given function is at maximum when x = -2, and the maximum value of the
function is given by,
Max. y =
=
-6 (-2) + 8
+ 2 + 12 + 8 = 22
(ii)
When x = ,
=4
16
3
50
3
= 16
2
3
+ 1 = 7 > 0 = + ve
3
Hence, the given function is minimum when x = , and the minimum value of the function is
2
given by
Min,
Y=
+
+
-1 =
-6
+8
-9 + 8
=2
Tutorhelpdesk
Question-3:
C = 100 + 0.015 2 ; R = 3x
Where, C = total cost, R = total revenue and x = number of units produced. Find the
production rate, x that will maximize the profit of the firm, and ascertain such maximum
profit, Find also, the profit when x = 120.
Solution:
We know that profit = Revenue cost.
= P = R-C
= P = (3x) (100 + 0.015x2)
= P = 3x 100 0.015x2
Thus, the profit function or p = 3x 100 0.015x2
Differentiating P w. r. t x we get,
= 3 0.030 x
According to the necessary condition
=0
= (3 0.030x) = 0
=
x = 100
Now,
This shows that the profit function is at the maximum when x = 100
(a) Thus, the maximum profit is given by,
Max, P = 3(100) 100 0.015 (100)2
= 300 100 0.015. (10,000)
= 300 100 150 = 50 or $ 50.
(b) Profit when x = 120
Putting 120 in place of x in the profit function we get,
P = 3(120) 100 0.015 120
Tutorhelpdesk
Note. From the above two results it must be seen that under no level of sale other than its
optimum level i.e., when x = 100, the profit will be greater than its optimum profit i.e., $
50.
Question-4:
The total cost function for the inventory control of a firm is given by T =
,,
10,000 +
purchase price,
,,
16
corresponding to it. (iii) Also, find the total cost of the inventory, when each order is placed
for 2,500 units.
Solution:
Given the cost function, T = 10,000 +
,,
16
(10,000 + 2,52,000 1 +
1
16
Q)
Tutorhelpdesk
= -1(2,50,000) 2 +
1
16
,,
16
,,
,,
1
16
=0
=0
1
16
,,
= 2 = 16 2,50,000
= Q = 40,00,000 = 2,000
Q, being the quantity purchased can never be negative. Hence, Q = 2,000 units.
Now
(-2,50,000 2 +
,,
,
50,00,000
= (-2) (-2,50,000) 3 =
When, Q = 2,000,
1
16
> 0 = +ve
(i)EQQ, From the above it comes out that the given cost function attains the minimax, when
Q = 2,000. This means that the economic ordering quantity, or EOQ = 2,000 units.
(ii) Cost corresponding to EOQ. The minimum cost, or the cost corresponding to the ECQ
is obtained by substituting 2,000 in place of Q in the given function
Thus, Min. T = 10,000 +
,,
,
Tutorhelpdesk
Question-5:
The demand function of a particular commodity is Y = / for 0 < x 8, where y is the
price per unit and x is the number of units demanded. Determine the price, and the quantity
for which revenue is maximum.
Solution:
Here, Revenue = Number of units demanded price.
Where, x represents the units, and y the price
Thus, R = xy
Given Y = /
Thus, the revenue function or R = x. 15 /3
Now, differentiating R (the revenue) w. r. t. x, (the units demanded) we have,
(/ )
= /
(x) + x
Tutorhelpdesk
= / (1) + x. 15 /
= / + /
= / + /
= / + /
(x)
(1) = / + /
= / + / x = / (3 x)
According to the necessary condition, the function will have a turning value when
=
/ (3-x) = 0
x = , or x =3
=0
x = being absurd, x = 3
According to the sufficient condition,
On putting x = 3 in the
(/ + / x)
Hence, the revenue function is maximum, when x = 3 and the maximum revenue given by
Max.
R = . 15 /3
= (15 3/3 = 45 1 =
45
45
2.72
= 16.54 (app.).
after putting x = 3 therein, and see that the result is < 0 i.e., - ve.
2. e is an irrational number whose value lies between 2.7 and 2.8 i.e. 2.72 approx.