Optimization Problem Assignment | Homework for You

You own two lakes rich in fish. The quantity of fish caught in each lake depends on the number of persons who fish in each, according to
Q1 = 10N1 – 0.1N12 and
Q2 = 16N2 – 0.4N22,
where N1 and N2 denote the number of fishers at each lake. In all, there are N fishers working for you, each of them is paid a wage w, and the price of fish is P.Homework For You
1. Write down your optimization problem as an optimization problem with a single variable, N1. Hint: find N2 from the formula N = N1 + N2, and replace it in the objective function.
2. Write down the first order condition for this problem. Do not solve the equation yet!
3. The first order condition (which you did not solve yet, right?) implicitly defines the optimal number of fishers in lake 1, N1* as a function of P, w, and N. Use the implicit function theorem to calculate all three partial derivatives of N1*.
4. Solve the first order condition to calculate N1*.
5. Write down and check the second order condition(s).
6. Skip
7. Write the optimization problem you are faced in the previous section (questions 1 — 5), as a constrained optimization problem with 2 variables.
8. Write down the first order conditions.
9. Write down the second order condition(s) and check whether it/they are satisfied.
10. Find the optimal numbers of fishers in each lake.
On a popular air route, an airline offers two classes of service: business class (B) and economy class (E). The respective inverse demands are given by
PB = 540 – 0.5QB and PE = 380 – QE.
Because of ticketing regulations, business passengers cannot take advantage of economy’s low fares.
Each flight has a capacity of 200 passengers, The cost per full flight is $20,000, so you may assume the marginal cost per passenger is $100.
11. Write down the optimization problem this airline is faced with. Set it up as an unconstrained optimization problem with two variables.
12. Write down the first order condition(s).
13. Solve the first order condition(s) to find out the optimal number of flights.
14. Write down the second order condition(s) and check whether it/they is/are satisfied.
End of assignment.

Save Time On Research and Writing
Hire a Pro to Write You a 100% Plagiarism-Free Paper.
Get My Paper
Calculate the price
Make an order in advance and get the best price
Pages (550 words)
*Price with a welcome 15% discount applied.
Pro tip: If you want to save more money and pay the lowest price, you need to set a more extended deadline.
We know how difficult it is to be a student these days. That's why our prices are one of the most affordable on the market, and there are no hidden fees.

Instead, we offer bonuses, discounts, and free services to make your experience outstanding.
How it works
Receive a 100% original paper that will pass Turnitin from a top essay writing service
step 1
Upload your instructions
Fill out the order form and provide paper details. You can even attach screenshots or add additional instructions later. If something is not clear or missing, the writer will contact you for clarification.
Pro service tips
How to get the most out of your experience with Homework Writing Services
One writer throughout the entire course
If you like the writer, you can hire them again. Just copy & paste their ID on the order form ("Preferred Writer's ID" field). This way, your vocabulary will be uniform, and the writer will be aware of your needs.
The same paper from different writers
You can order essay or any other work from two different writers to choose the best one or give another version to a friend. This can be done through the add-on "Same paper from another writer."
Copy of sources used by the writer
Our college essay writers work with ScienceDirect and other databases. They can send you articles or materials used in PDF or through screenshots. Just tick the "Copy of sources" field on the order form.
See why 20k+ students have chosen us as their sole writing assistance provider
Check out the latest reviews and opinions submitted by real customers worldwide and make an informed decision.
Excellent job. I was sure the writer will do a perfect job and submit on time. Thank you!
Customer 462359, November 19th, 2022
Good job!
Customer 463337, March 16th, 2023
Thank you for following all instructions. Good piece
Customer 463337, March 1st, 2023
Customer 454463, April 25th, 2022
Good work.
Customer 462931, May 4th, 2022
Good job.
Customer 462783, March 31st, 2022
Business Studies
Customer 453413, April 19th, 2020
Well-written and well-researched content. Followed the instructions to the letter. Good job mate!!
Customer 463679, April 27th, 2023
looks great
Customer 463501, October 16th, 2022
Always check word count when proofreading.
Customer 452441, April 6th, 2022
Customer 463813, May 11th, 2023
Thanks for the quick response to this assignment and great communication.
Customer 463875, April 29th, 2023
Customer reviews in total
Current satisfaction rate
3 pages
Average paper length
Customers referred by a friend
15% OFF your first order
Use a coupon FIRST15 and enjoy expert help with any task at the most affordable price.
Claim my 15% OFF Order in Chat