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Worksheet 5

The document contains 20 multi-part exercises involving optimization of functions subject to constraints. The exercises involve finding and classifying critical points, determining absolute extrema, solving for constants to satisfy optimization conditions, and maximizing/minimizing functions subject to inequality and equality constraints involving multiple variables. The goal is to practice techniques for solving optimization problems that commonly arise in economics, business, and engineering.

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92 views

Worksheet 5

The document contains 20 multi-part exercises involving optimization of functions subject to constraints. The exercises involve finding and classifying critical points, determining absolute extrema, solving for constants to satisfy optimization conditions, and maximizing/minimizing functions subject to inequality and equality constraints involving multiple variables. The goal is to practice techniques for solving optimization problems that commonly arise in economics, business, and engineering.

Uploaded by

polipoli345
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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UNIVERSIDAD CARLOS III DE MADRID

MATHEMATICS II
EXERCISES
CHAPTER 5: Optimization
5-1. Find and classify the critical points of the following functions.
(a) f (x, y) = x2 y 2 + xy.
(b) f (x, y) = x2 + y 2 + 2xy.
(c) f (x, y) = ex cos y .
2
2
(d) f (x, y) = e1+x y .
(e) f (x, y) = x sin y.
(f) f (x, y) = xex (y 2 4y)
5-2. Find the critical points of the following functions. For which points the second derivative criterion does not
give any information?
(a) f (x, y) = x3 + y 3 .
1/2
(b) f (x, y) = (x 1)2 + (y + 2)2
.
(c) f (x, y) = x3 + y 3 3x2 + 6y 2 + 3x + 12y + 7.
(d) f (x, y) = x2/3 + y 2/3
5-3. Let f (x, y) = (3 x)(3 y)(x + y 3).
(a) Find and classify the critical points.
(b) Does f have absolute extrema? (hint: consider the line y = x)
5-4. Find the values of the constants a, b and c so that the function f (x, y) = ax2 y + bxy + 2xy 2 + c has a local
minimum at the point (2/3, 1/3) and the minimum value at that point is 1/9.
5-5. The income function is R(x, y) = x(100 6x) + y(192 4y) where x and y are the number of articles sold. If
the cost function is C(x, y) = 2x2 + 2y 2 + 4xy 8x + 20 determine the maximum profit.
5-6. A milk store produces x units of whole milk and y units of skim milk. The price for whole milk is p(x) = 100x
and the price for skim milk is q(y) = 100 y. The cost of production is C(x, y) = x2 + xy + y 2 . How should
the company choose x and y to maximize profits?
5-7. A monopolist produces a good which is bought by two types of consumers. The consumers of type 1 are
willing to pay 50 5q1 euros in order to purchase q1 units of the good. The consumers of type 2 are willing
to pay 100 10q2 euros in order to purchase q2 units of the good. The cost function of the monopolist is
c(q) = 90 + 20q euros. How much should the monopolist produce in each market?
5-8. Find and classify the extreme points of the following functions under the given restrictions.
(a) f (x, , y, z) = x + y + z in x2 + y 2 + z 2 = 2.
(b) f (x, , y) = cos(x2 y 2 ) in x2 + y 2 = 1.
5-9. Minimize x4 + y 4 + z 4 on the plane x + y + z = 1.
5-10. A company makes two products, P1 and P2 . If the company sells x1 units of P1 and x2 units of P2 it receives
a net profit of R = 5x21 8x22 2x1 x2 + 42x1 + 102x2 . Find x1 and x2 that maximize net profit.
5-11. The prices for two goods produced by a monopolist are
p1 =256 3q1 q2
p2 =222 + q1 5q2
where p1 , p2 are the prices and q1 , q2 are the quantities produced. The cost function is C(q1 , q2 ) = q12 +q1 q2 +q22 .
Find the quantities that maximize profit.
5-12. The production function for a firm is 4x + xy + 2yz, where x is labor and y is capital. The total budget that
the company can spend is 2000$. Each unit of labor costs 20$, whereas each unit of capital costs 4$. Find
1

the optimal level of production for the firm.


5-13. An editor has been assigned a budget of 60.000 to be spent on advertising and production of a new book.
She estimates that spending x thousand euro in production and y thousand euro in advertising she can sell
f (x, y) = 20x3/2 y books. If she wants to maximize sales, how much should she allocate to advertising and
how much should she allocate to production?
5-14. A store sells two products which are close substitutes. The manager has found that if he sells the products at
the prices P1 and P2 , the net profit is R = 500P1 + 800P2 + 1, 5P1 P2 1, 5P12 P22 . Find the optimal prices
for the manager.
5-15. The utility function of a consumer is u(x, y) = 31 ln x + 32 ln y, where x and y are the consumption goods, with
prices, respectively, p1 and p2 . The rent of the agent is M . Find the demand of the agent for each good.
5-16. Find and classify the extreme points of the function f on the given set.
(a) f (x, y, z) = x2 + y 2 + z 2 on the set {(x, y, z) R3 : x + 2y + z = 1, 2x 3y z = 4}.
(b) f (x, y, z) = (y + z 3)2 on the set {(x, y, z) R3 : x2 + y + z = 2, x + y 2 + 2z = 2}.
(c) f (x, y, z) = x + y + z on the set {(x, y, z) R3 : x2 + y 2 + z 2 = 1, x y z = 1}.
(d) f (x, y, z) = x2 + y 2 + z 2 on the set {(x, y, z) R3 : x2 + y 2 = z, x + y + z = 4}.
5-17. Find the maximum of the function f (x, y, z) = xyz on the set {(x, y, z) R3 : x + y + z 1,
5-18. Find the minimum of the function f (x, y) = 2y x2 on the set {(x, y) R2 : x2 + y 2 1,
5-19. Solve the optimization problem


min
s.t.

x2 + y 2 20x
25x2 + 4y 2 100

5-20. Solve the optimization problem

max
s.t.

x + y 2z
z x2 + y 2
x, y, z 0

x, y, z 0}.

x, y 0}.

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