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Suppose U (x, y) = 4x2 + 3y2
(a) Calculate ∂U/∂x and ∂U/∂y
(b) Evaluate these partial derivatives at x = 1, y = 2.
(c) Write the total differential for U
(d) Calculate dy/dx for dU = 0 - that is, what is the implied trade-off between x and y holding U constant?
9e) Show U=16 whenx=1, y=2.
(f) What is the marginal rate of substitution when x = 1, y = 2?
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Jim Delaney, president of Apex Door, has a problem. No matter how often he tells his workers how to do their jobs, they invariably decide to do it their own way,
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(a) What is the probability of exactly 2 asteroids of 4m diameter entering the atmosphere in a 6 month period?
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Discuss what management must do to show they are serious about providing a safe and healthy working environment for employees. What role does the employee take?
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