Home /
Expert Answers /
Economics /
nbsp-please-do-all-parts-urgently-with-explanation-i-39-ll-give-you-up-thumb-definitely-a-a-f-pa158
(Solved): Please do all parts urgently with explanation... I'll give you up thumb definitely A) A f ...
![A) A firms total cost function is given by
\[
T C=3 X_{1}^{2}+2 X_{1} X_{2}+7 X_{2}^{2}
\]
Where \( X_{1} \) and \( X_{2} \)](https://media.cheggcdn.com/study/343/3438740e-6669-44e2-9699-2476bea489b2/image.jpg)
Please do all parts urgently with explanation... I'll give you up thumb definitely
A) A firm's total cost function is given by \[ T C=3 X_{1}^{2}+2 X_{1} X_{2}+7 X_{2}^{2} \] Where \( X_{1} \) and \( X_{2} \) denote the number of items of goods \( \mathrm{G} 1 \) and \( \mathrm{G} 2 \),respectively, that are produced. Find the values of \( X_{1} \) and \( X_{2} \) which minimize costs if the firm is committed to providing 40 goods of either type in total. (15 marks) B) Find the maximum value of \[ Z=80 x-0.1 x^{2}+100 y-0.2 y^{2} \] Subject to the constraint \[ x+y=500 \] (10 marks)
Expert Answer
A) TC=3X12+2X1X2+7X22 Total amount of goods = 40 i.e. X1+X2 = 40 Minimize TC subject to constraint X1+X2 = 40 setting up the Lagrange, L=3X12+2X1X2+7X