Try the fastest way to create flashcards
Question

A firm uses wool and cotton fiber to produce cloth. The amount of cloth produced is given by Q(x,y)=xyxy+1Q(x, y)=x y-x-y+1, where xx is the number of pounds of wool, yy is the number of pounds of cotton, and x>1x>1 and y>1y>1. If wool costs pp dollars per pound, cotton costs qq dollars per pound, and the firm can spend BB dollars on material, what should the mix of cotton and wool be to produce the most cloth?

Solution

Verified
Answered 2 years ago
Answered 2 years ago
Step 1
1 of 3

The amount of cloth produced is described by the function Q(x,y)=xyxy+1Q(x,y)=xy-x-y+1.

The cost function is given by g(x,y)=px+qyg(x,y)=px+qy. In fact, the cost of wool is pp dollars per pound; and cotton, qq dollars per pound. Since the firm can spend BB dollars then g(x,y)=Bg(x,y)=B.

Create a free account to view solutions

Create a free account to view solutions

Recommended textbook solutions

Thomas' Calculus 14th Edition by Christopher E Heil, Joel R. Hass, Maurice D. Weir

Thomas' Calculus

14th EditionISBN: 9780134438986 (11 more)Christopher E Heil, Joel R. Hass, Maurice D. Weir
10,142 solutions
Calculus III 2nd Edition by Alan Weinstein, Jerrold E. Marsden

Calculus III

2nd EditionISBN: 9780387909851Alan Weinstein, Jerrold E. Marsden
1,440 solutions
Calculus: Early Transcendentals 8th Edition by James Stewart

Calculus: Early Transcendentals

8th EditionISBN: 9781285741550 (6 more)James Stewart
11,081 solutions
Calculus: Early Transcendentals 9th Edition by Daniel K. Clegg, James Stewart, Saleem Watson

Calculus: Early Transcendentals

9th EditionISBN: 9781337613927 (3 more)Daniel K. Clegg, James Stewart, Saleem Watson
11,050 solutions

More related questions

1/4

1/7