Microeconomic Theory
12th Edition
ISBN: 9781337517942
Author: NICHOLSON
Publisher: Cengage
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What is the second (or second order) condition for finding the maximum point of a function?
O Second derivative (or rate of change of the first derivative) is negative
Second derivative is positive
OSecond derivative (or rate of change of the first derivative) is zero
Second deriyative (or rate of change of the first derivative) is at a minimum
The first order,
and the second order,
partial derivatives of the following function are, respectively
z = r°y² + 15ye*
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= 2r*y
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2x3 + 15e" and
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3x + 15e* and
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= 2x®y+ 15e* and
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Clear my choice
4. Verify that a homogenous function has IRS, CRS or DRS depending on whether the
degree of the function satisfies y> 1, y = 1, or y< 1.
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