- (10 Marks) Create and work with a function of two variables, create a linear constraint
with two variables.
NOTE: Each student must create and work with their own unique func- tions.
(a) (2 marks) Set up the Lagrangian function.
(b) (2 marks) Find the critical values of your function (including the critical value for the
(c) (2 marks) Find the maximum/minimum value of your function.
(d) (4 marks) Determine whether or not your solution is a minimum or a maximum of the
function and explain how you came to that conclusion.
- (10 marks) Suppose there exists a discriminating monopolist which has the inverse
demand functions are P1 = a1 − b1Q1 and P2 = a2 − b2Q2. Find the profit function and
find an expression for the optimal value of profit in terms of a1, a2, b1 and b2. Be sure to
explain your steps as much as possible.
car variants in the four wheeler segment. This includes the Mahindra e20, Mahindra e-Verito, Toyota Prius, Toyota Camry, BMW i8 and Mahindra Scorpio Micro-Hybrid. . Out of these only three cars are from the mid size range and the rest fall the under the premium segment. Similarly there are a handfull of options in electric scooters and three wheelers. But these numbers are far too less when compared to the range of options an American buyer or a British car buyer has. This shows the need for automakers to introduce latest technologies in mid range cars of India in order to fascilitate the future growth of autonomous vehicles. It is also important for car manufacturers in India to collaborate with leading companies who offer Information Technology Enabled Services (ITES) to develop futuristic vehicle navigation system which will assist in making robotic cars. This is achievable in India, since it has an extensive infrastructure for software development. India has recently launched NAVIC which is the operational name for IRNSS (Indian Regional Navigation Satellite System) . This is said to be the toughest counterpart of America’s GPS satellites. Thus, the current state is extremely conducive for Indian car manufacturers to use satellites for vehicle navigation system, and NAVIC can help makes this technology affordable. Creation of suitable infrastructure is of vital importance to adopt any new technology. This statement holds true even in the case of making autonomous vehicles a reality in India. But the primary step is to optimise the existing infrastructure, which can fascilitate creation of new ones.>GET ANSWER