An individual''s total labor compensation

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Reference no: EM131021227

Assume that an individual's total labor compensation is a function of that person's education level, E, and years of experience, X, in a given profession. This compensation function (C) is

C = -2 E² + 78E - 2 X² + 66X - 2EX

1)Find the stationary point that maximizes the compensation function to determine what combination of education and experience gives the highest level of this individual's labor compensation

2)Show that the education level, E, and years of experience, X, identified as the stationary point provides for maximum compensation

Reference no: EM131021227

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