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Maximize or minimize the following functions. Be sure to check your second-order conditions. (a) maxQ ? =...

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Advance Math

Maximize or minimize the following functions. Be sure to checkyour second-order conditions.

(a) maxQ ? = (20 ? Q)Q ? 4Q

(b) maxQ ? = (12 ? Q)Q ? 2Q2

(c) maxL ? = AL1/2 ? 4L

(d) maxL ? = AL? ? wL (where A and ? are exogenous parametersand w is the wage rate on labor, L)

Answer & Explanation Solved by verified expert
4.4 Ratings (948 Votes)
a Given Differentiating we getAs the second derivative is negative maximum occurs at Q8 andmaximum value is    See Answer
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