7Week 42

7.1 Readings for this week's lectures

Sections 14.7-14.8 and 17.2-17.3 in the textbook.

7.2 Readings for this week's exercises

Sections 15.3 and 17.1 in the textbook.

7.3 Notes

Slope of a level curve
If and , one has
Theorem 17.1.1
A differentiable function can have a maximum or minimum at an interior point of its domain only if it is a critical point in the sense that the pair satisfies the following two first-order conditions (FOCs):

7.4 Problems

Use the general chain rule for differentiation of composite functions to find and for:
where and
Let a function of two variables, where is implicitly a function of , be given as:
Find by using the formula in the notes.
Let a function of two variables be given as:
Use the formula in order to find the slope of the level curve for in the point .
The demand is the quantity of winter jackets that can be sold at price . For the function:
find the instantaneous change in w.r.t. by implicit differentiation, i.e.,
In this exercise, we meet Dorthe. Drag a statement from the boxes at the bottom, so that the sentence is true.
Dorthe lives in Aarhus. That is
for living in Denmark
a necessary condition
a sufficient condition
not a sufficient condition
In this exercise, we meet Dylan. Drag a statement from the boxes at the bottom, so that the sentence is true.
Dylan lives in Denmark. That is
for living in Aarhus
not a necessary condition
a sufficient condition
a necessary condition
Find all critical points of for:
Find all the points where may have a maximum or minimum for the function:
(Part of previous exam problem)
The function is given by:
  1. Find the first and second order derivatives of the function .
  2. Check whether the function has an interior stationary point.
Find all the critical points of for:
Consider the function .
  1. Show that has the critical points
  2. Use the contour plot of , below, to determine which of these points are a maximum or a minimum.
The postal service provider PostNord requires that any box delivered must have a length plus circumference totaling no more than 300 cm. We call the width , the height , and the length , as shown in the figure below.
  1. Find the dimensions of the box with the maximum volume that can be sent.
    Express the volume, length and circumference in terms of , and as shown in the figure below.
    For the maximum volume the following relation holds: length + circumference . Use this to eliminate from the expression for , which can then be written as a function of and . Now, find the critical points, which you can assume is a maximum.
  2. PostNord also requires that the maximum length is 150 cm. Does the found solution satisfy this requirement?
Assume that the annual profit of a firm is given by:
where and denote the amount of money (in million DKK) spent on product development and advertising, respectively.
  1. Find the firm's profit, when and .
  2. Find all possible combinations of and , where the profit can be maximized and compute the corresponding profit in these points.