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:
- Find the first and second order derivatives of the function .
- Check whether the function has an interior stationary point.
Find all the critical points of for:
Consider the function .
- Show that has the critical points
- 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.
- 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.
- 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.
- Find the firm's profit, when and .
- Find all possible combinations of and , where the profit can be maximized and compute the corresponding profit in these points.