Mathematics - Calculus in Commerce
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Production
The output Q at a certain factory is related to inputs x and y by the equation:
Q = x^3 + 2xy^2 + 2y^3
If the current levels of input are x = 10 and y = 20, use calculus to estimate the change in input y that should be made to offset an increase of 0.5 in input x so that output will be maintained at its current level.
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The expert determines the calculus in commerce. A complete, neat and step-by-step solution is provided.
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Current output = 10^3 + 2(10)20^2 + 2(20^3) = 25000.
With an increase of 0.5 in the input x, the new ...
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