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ECO404 Assignment No 01 Solution & Discussion Due Date: Nov 22, 2016

ECO404 - Managerial Economics Assignment No. 1 Solution Fall 2016 Due Date: Nov 22, 2016

 MANAGERIAL ECONOMICS (ECO404)

ASSIGNMENT 

 

 

 

DUE DATE: 22 NOVEMBER, 2016 

MARKS: 10

 

 

 

 

QUESTION: 

 

 

Nestle Pakistan is one of the leading food and beverage companies in Pakistan with key focus on nutrition, health and wellness. The top priority of the company is to produce good quality and safely products with environment friendly operations. Different brands of the company include ambient dairy, coffee, bottled water, juices, baby food and breakfast cereals. Let the profit function of Nestle Pakistan is given as under

π = 60x – 3x2  –xy – 3y2  + 200y

Subject to the following constraint:

x + y = 14

 

 

 

REQUIREMENTS:

 

 

Keeping in view the above information, use the Lagrangian Multiplier method to calculate:

 

 

 

  1.  Profit maximizing values of input “x” 
  2.  Profit maximizing values of input “y”
  3.  The Lagrangian Multiplier “λ”. Also interpret it.

 

 

 

(Marks: 3+3+4)

 Note: You are advised to watch video lectures as well as study handouts and recommended text books before attempting the assignment. Write down all relevant steps involved in

 

calculations.

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Views: 3541

Replies to This Discussion

Correct Ans:

X = -7, Y = 21, Lambda = 81

wrong

x =7 ,y =7 but do we need to calculate lambda by putting value of x & y in equ 1 or 2, equ gives lambda as 11, n equ 2 gives lambda as

X =7 , y = 7, put value in equ 1

60 – 6(7) – (7 )- λ = 0   

60 – 42 – 7 - λ = 0   

λ = 11,

X =7 , y = 7, put value in equ 2

-7 - 6(7) +200- λ = 0   

-7 – 42+200 - λ = 0   

λ = 151                                                                                        

dear sana...x=-7 and y=21....now calculate λ it will be 81 by both ways

can u please show me the formula of LAMDAA..... i can't understand

sana ap ka ans thk ha ? cnfrm ha ap ko?

apki values ghalt hn .. x=-7 & y= 21

correct mera bhi yahi a raha hai 

Salam,

This is the first time I am joining This forum. That is helpful.

Koi Correct Answer dono share karay ga muje tu bilkul samhaj nahi a rahai

Please share

page no 13 and 14 dakho ap

Do we have to define Lagrangian multipler in requirement c ...??

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