Optimization of Economic Functions with two Variables
Session
Management, Business and Economics
Description
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 optimization of any enterprise that produces two goods. We will also optimize an enterprise that sells some kind of product in different markets with price discrimination.
Keywords:
Function, Derivative, Optimization, Product, Profit.
Session Chair
Ylber Limani
Session Co-Chair
Nehat Dobratiqi
Proceedings Editor
Edmond Hajrizi
ISBN
978-9951-550-19-2
Location
Pristina, Kosovo
Start Date
26-10-2019 3:15 PM
End Date
26-10-2019 3:30 PM
DOI
10.33107/ubt-ic.2019.358
Recommended Citation
Jusufi, Azir; Jusufi, Bukurie Imeri; Sadiku, Flamure; and Kabashi, Faton, "Optimization of Economic Functions with two Variables" (2019). UBT International Conference. 358.
https://knowledgecenter.ubt-uni.net/conference/2019/events/358
Optimization of Economic Functions with two Variables
Pristina, Kosovo
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 optimization of any enterprise that produces two goods. We will also optimize an enterprise that sells some kind of product in different markets with price discrimination.