<< Chapter < Page Chapter >> Page >
  • Set up and solve optimization problems in several applied fields.

One common application of calculus is calculating the minimum or maximum value of a function. For example, companies often want to minimize production costs or maximize revenue. In manufacturing, it is often desirable to minimize the amount of material used to package a product with a certain volume. In this section, we show how to set up these types of minimization and maximization problems and solve them by using the tools developed in this chapter.

Solving optimization problems over a closed, bounded interval

The basic idea of the optimization problems    that follow is the same. We have a particular quantity that we are interested in maximizing or minimizing. However, we also have some auxiliary condition that needs to be satisfied. For example, in [link] , we are interested in maximizing the area of a rectangular garden. Certainly, if we keep making the side lengths of the garden larger, the area will continue to become larger. However, what if we have some restriction on how much fencing we can use for the perimeter? In this case, we cannot make the garden as large as we like. Let’s look at how we can maximize the area of a rectangle subject to some constraint on the perimeter.

Maximizing the area of a garden

A rectangular garden is to be constructed using a rock wall as one side of the garden and wire fencing for the other three sides ( [link] ). Given 100 ft of wire fencing, determine the dimensions that would create a garden of maximum area. What is the maximum area?

A drawing of a garden has x and y written on the vertical and horizontal sides, respectively. There is a rock wall running along the entire bottom horizontal length of the drawing.
We want to determine the measurements x and y that will create a garden with a maximum area using 100 ft of fencing.

Let x denote the length of the side of the garden perpendicular to the rock wall and y denote the length of the side parallel to the rock wall. Then the area of the garden is

A = x · y .

We want to find the maximum possible area subject to the constraint that the total fencing is 100 ft . From [link] , the total amount of fencing used will be 2 x + y . Therefore, the constraint equation is

2 x + y = 100 .

Solving this equation for y , we have y = 100 2 x . Thus, we can write the area as

A ( x ) = x · ( 100 2 x ) = 100 x 2 x 2 .

Before trying to maximize the area function A ( x ) = 100 x 2 x 2 , we need to determine the domain under consideration. To construct a rectangular garden, we certainly need the lengths of both sides to be positive. Therefore, we need x > 0 and y > 0 . Since y = 100 2 x , if y > 0 , then x < 50 . Therefore, we are trying to determine the maximum value of A ( x ) for x over the open interval ( 0 , 50 ) . We do not know that a function necessarily has a maximum value over an open interval. However, we do know that a continuous function has an absolute maximum (and absolute minimum) over a closed interval. Therefore, let’s consider the function A ( x ) = 100 x 2 x 2 over the closed interval [ 0 , 50 ] . If the maximum value occurs at an interior point, then we have found the value x in the open interval ( 0 , 50 ) that maximizes the area of the garden. Therefore, we consider the following problem:

Maximize A ( x ) = 100 x 2 x 2 over the interval [ 0 , 50 ] .

As mentioned earlier, since A is a continuous function on a closed, bounded interval, by the extreme value theorem, it has a maximum and a minimum. These extreme values occur either at endpoints or critical points. At the endpoints, A ( x ) = 0 . Since the area is positive for all x in the open interval ( 0 , 50 ) , the maximum must occur at a critical point. Differentiating the function A ( x ) , we obtain

A ( x ) = 100 4 x .

Therefore, the only critical point is x = 25 ( [link] ). We conclude that the maximum area must occur when x = 25 . Then we have y = 100 2 x = 100 2 ( 25 ) = 50 . To maximize the area of the garden, let x = 25 ft and y = 50 ft . The area of this garden is 1250 ft 2 .

The function A(x) = 100x – 2x is graphed. At its maximum there is an intersection of two dashed lines and text that reads “Maximum area is 1250 square feet when x = 25 feet.”
To maximize the area of the garden, we need to find the maximum value of the function A ( x ) = 100 x 2 x 2 .
Got questions? Get instant answers now!

Questions & Answers

What are the factors that affect demand for a commodity
Florence Reply
differentiate between demand and supply giving examples
Lambiv Reply
differentiated between demand and supply using examples
Lambiv
what is labour ?
Lambiv
how will I do?
Venny Reply
how is the graph works?I don't fully understand
Rezat Reply
information
Eliyee
devaluation
Eliyee
t
WARKISA
hi guys good evening to all
Lambiv
multiple choice question
Aster Reply
appreciation
Eliyee
explain perfect market
Lindiwe Reply
In economics, a perfect market refers to a theoretical construct where all participants have perfect information, goods are homogenous, there are no barriers to entry or exit, and prices are determined solely by supply and demand. It's an idealized model used for analysis,
Ezea
What is ceteris paribus?
Shukri Reply
other things being equal
AI-Robot
When MP₁ becomes negative, TP start to decline. Extuples Suppose that the short-run production function of certain cut-flower firm is given by: Q=4KL-0.6K2 - 0.112 • Where is quantity of cut flower produced, I is labour input and K is fixed capital input (K-5). Determine the average product of lab
Kelo
Extuples Suppose that the short-run production function of certain cut-flower firm is given by: Q=4KL-0.6K2 - 0.112 • Where is quantity of cut flower produced, I is labour input and K is fixed capital input (K-5). Determine the average product of labour (APL) and marginal product of labour (MPL)
Kelo
yes,thank you
Shukri
Can I ask you other question?
Shukri
what is monopoly mean?
Habtamu Reply
What is different between quantity demand and demand?
Shukri Reply
Quantity demanded refers to the specific amount of a good or service that consumers are willing and able to purchase at a give price and within a specific time period. Demand, on the other hand, is a broader concept that encompasses the entire relationship between price and quantity demanded
Ezea
ok
Shukri
how do you save a country economic situation when it's falling apart
Lilia Reply
what is the difference between economic growth and development
Fiker Reply
Economic growth as an increase in the production and consumption of goods and services within an economy.but Economic development as a broader concept that encompasses not only economic growth but also social & human well being.
Shukri
production function means
Jabir
What do you think is more important to focus on when considering inequality ?
Abdisa Reply
any question about economics?
Awais Reply
sir...I just want to ask one question... Define the term contract curve? if you are free please help me to find this answer 🙏
Asui
it is a curve that we get after connecting the pareto optimal combinations of two consumers after their mutually beneficial trade offs
Awais
thank you so much 👍 sir
Asui
In economics, the contract curve refers to the set of points in an Edgeworth box diagram where both parties involved in a trade cannot be made better off without making one of them worse off. It represents the Pareto efficient allocations of goods between two individuals or entities, where neither p
Cornelius
In economics, the contract curve refers to the set of points in an Edgeworth box diagram where both parties involved in a trade cannot be made better off without making one of them worse off. It represents the Pareto efficient allocations of goods between two individuals or entities,
Cornelius
Suppose a consumer consuming two commodities X and Y has The following utility function u=X0.4 Y0.6. If the price of the X and Y are 2 and 3 respectively and income Constraint is birr 50. A,Calculate quantities of x and y which maximize utility. B,Calculate value of Lagrange multiplier. C,Calculate quantities of X and Y consumed with a given price. D,alculate optimum level of output .
Feyisa Reply
Answer
Feyisa
c
Jabir
the market for lemon has 10 potential consumers, each having an individual demand curve p=101-10Qi, where p is price in dollar's per cup and Qi is the number of cups demanded per week by the i th consumer.Find the market demand curve using algebra. Draw an individual demand curve and the market dema
Gsbwnw Reply
suppose the production function is given by ( L, K)=L¼K¾.assuming capital is fixed find APL and MPL. consider the following short run production function:Q=6L²-0.4L³ a) find the value of L that maximizes output b)find the value of L that maximizes marginal product
Abdureman
Got questions? Join the online conversation and get instant answers!
Jobilize.com Reply
Practice Key Terms 1

Get Jobilize Job Search Mobile App in your pocket Now!

Get it on Google Play Download on the App Store Now




Source:  OpenStax, Calculus volume 1. OpenStax CNX. Feb 05, 2016 Download for free at http://cnx.org/content/col11964/1.2
Google Play and the Google Play logo are trademarks of Google Inc.

Notification Switch

Would you like to follow the 'Calculus volume 1' conversation and receive update notifications?

Ask