Constrained Optimization Maximize profit: π = 80x - 2x 2 - xy - 3y 2 + 100y, subject to the budget constraint: x + y = 12. What is the equilibrium value of x? What is the equilibrium value of y? What...

Maximize profit: π = 80x - 2x² - xy - 3y²
+ 100y, subject to the budget constraint: x + y = 12.

What is the equilibrium value of x?

What is the equilibrium value of y?

What is the equilibrium value of λ?

What is the optimized value of profit, π?

What is the value of the determinant of the bordered Hessian matrix?

Based on the value of the determinant of the bordered Hessian matrix, comment on the optimized value of profit. (Answer in one word.)

Jun 04, 2022

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