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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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Replies to This Discussion

What is the procedure of finding the value of x & y after getting equatioin 4..??

simple eq solve karo and get value

For Ambreen only
From Equation 3 y= 14 - x , putting this value of y in Equation 4 we get x value as following
– 5X + 5Y -140=0
-5x+5 (14-x)-140=0
-5x+70-5x-140=0

x = - 7........now find x in the same way then lamda

Thnk u for replying :

plzzzzz upload complete solution ...

plz

what ur problem it very simple seee page no 13 and 14 and sole it similarly

Interpretation bhe same likh dain...as per book...or what??

Dear Students Don’t wait for solution post your problems here and discuss ... after discussion a perfect solution will come in a result. So, Start it now, replies here give your comments according to your knowledge and understandings....

Eco 404 assignment solution 

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yes this the right solution.

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