14209an8.1-3 - c Kendra Kilmer Section 8.1 Functions of...

Info icon This preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
c Kendra Kilmer April 23, 2009 Section 8.1 - Functions of Several Variables Definition: An equation of the form z = f ( x , y ) describes a function of two independent variables if for each permissible ordered pair ( x , y ) , there is one and only one value of z determined by f ( x , y ) . Example 1: Given f ( x , y ) = 2 x 2 - 3 xy + y 2 - 4, find the following: a) f ( 3 , 0 ) b) f ( 1 , 2 ) c) f ( 4 , 1 ) Example 2: A company manufactures ten and three speed bicycles. The weekly demand and cost equations are p = 230 - 9 x + y , q = 130 + x - 4 y , C ( x , y ) = 200 + 80 x + 30 y where $ p is the price of a ten speed bicycle, $ q is the price of a three speed bicycle, x is the weekly demand for ten speed bicycles, y is the weekly demand for three speed bicycles, and C ( x , y ) is the cost function. a) Find the weekly revenue function and R ( 10 , 15 ) . b) Find the weekly profit function and P ( 10 , 15 ) 1
Image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
c Kendra Kilmer April 23, 2009 Definition: The Cobb-Douglas production function is defined as f ( x , y ) = kx m y n where k , m , and n are positive constants with m + n = 1. Economists use this function to describe the number of units f ( x , y )
Image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern