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Brooke Webb

Brooke Webb

Answered question

2022-05-21

K R + and z [ 0 , x ] [ 0 , K ] γ > 0 one defines
ϕ ( z ) = ( K z ) ( z x ) γ
The maximum is attained at z = γ K γ + 1 . Question: Why is for x γ K γ + 1 :
max z ϕ ( z ) = K x
And for x > γ K γ + 1
max z ϕ ( z ) = ϕ ( γ K γ + 1 )  ?
Best regards.

Answer & Explanation

soymmernenx

soymmernenx

Beginner2022-05-22Added 10 answers

The maximumis o er z [ 0 , x ] [ 0 , K ] = [ 0 , min ( x , K ) ]. ϕ is increasing on [ 0 , γ K / ( γ + 1 ) ] and decreasing on [ γ K / ( γ + 1 ) , K ]. If x γ K / ( γ + 1 ), the maximum is attained precisely at x, and its value is ϕ ( x ) = K x. If x > γ K / ( γ + 1 ), the maximum is attained at γ K / ( γ + 1 ).

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