Math Problem Statement

หา y* ยังไง

หา y* ยังไง

Solution

From the provided image, the goal is to find yy^* where Πy=0\frac{\partial \Pi}{\partial y} = 0. Here's the breakdown of the steps to solve for yy^*:

  1. Profit Function: Π=py[(w)(l)+(r)(k)]\Pi = py - \left[ (w)(l) + (r)(k) \right]

  2. Derivative of Profit with respect to yy: Πy=py[(w)(l)+(r)(k)]\frac{\partial \Pi}{\partial y} = p - \frac{\partial}{\partial y} \left[ (w)(l) + (r)(k) \right]

    From the equation in the image: Πy=p[20l+4k]\frac{\partial \Pi}{\partial y} = p - \left[ 20l + 4k \right]

    This derivative is set to zero to maximize profits.

  3. Set Πy=0\frac{\partial \Pi}{\partial y} = 0: p(20l+4k)=0p - \left( 20l + 4k \right) = 0

  4. Solve for yy^*: To proceed, you'll need to determine the relationship between yy, ll, and kk, which might involve production functions or constraints not shown here. If these are provided in your full notes or problem, substitute those relationships and solve for yy.

If you share more details or constraints from the problem, I can help you fully compute yy^*!


Questions for Further Understanding:

  1. What is the production function y=f(l,k)y = f(l, k) used here, if any?
  2. Are ll and kk given as functions of yy, or are they constants?
  3. What is the value of pp in this scenario?
  4. Does the problem involve specific cost functions or constraints for ll and kk?
  5. Is this part of a larger optimization problem involving multiple variables?

Tip:

When maximizing profit, always ensure that the marginal cost (MC) and marginal revenue (MR) are aligned correctly. Double-check the production function dependencies when solving.

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Math Problem Analysis

Mathematical Concepts

Profit Maximization
Marginal Cost
Marginal Revenue

Formulas

Profit function: Π = py - [(w)(l) + (r)(k)]
Derivative of profit with respect to y: ∂Π/∂y = p - ∂[(w)(l) + (r)(k)]/∂y

Theorems

First-order condition for profit maximization

Suitable Grade Level

Undergraduate Economics or Mathematics