application of two variable optimaisation technique to solve the problem of price discrimination
Answer (1)
Student Expert
28th Jul, 2020
Hello,
In addition to the mathematical notions for assigning stationary points with the help of the first partial derivatives of the two-variable function, we will classify these stationary points with the help of the second partial derivatives of the two-variable function, when the function f (x , y) reaches the maximum and when it reaches the minimum. The above notions will be applied to the profit optimisation of any enterprise that produces two goods. We will also optimise an enterprise that sells some kind of product in different markets with price discrimination.
I hope this helps.
In addition to the mathematical notions for assigning stationary points with the help of the first partial derivatives of the two-variable function, we will classify these stationary points with the help of the second partial derivatives of the two-variable function, when the function f (x , y) reaches the maximum and when it reaches the minimum. The above notions will be applied to the profit optimisation of any enterprise that produces two goods. We will also optimise an enterprise that sells some kind of product in different markets with price discrimination.
I hope this helps.
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