Home
Answered Questions
Algebra
Leonard Has The Following Demand For Two Products X And Y: Px = 2,501 - 15x P, = 1648 - 14y C(x, Y)

Leonard has the following demand for two products x and y: Px = 2,501 - 15x P, = 1648 - 14y C(x, y) = 5x2 + 11xy + 3y2 + 535 1) Set up the total profit function (1 pt.) 2) Find the critical points of total profit function (1 pt.) 3) Find the optimal profit (0.5 pt.) 4) Compute the Hessian Matrix (2 pts) 5) The optimal profit is a (relative maximum profit / minimum profit). Why? (0.5 pts)