Optimisation of functions
Everything you have learnt in this block —differentiating, studying the sign, classifying extrema— comes together here. Optimisation is the question that really matters in economics and in the EvAU exam for this pathway: what price should be set, how much should be produced, what shape should a container have, so that the profit is as high as possible or the cost as low as possible? The procedure is always the same, five fixed steps, and mastering it is the key to this block.
The procedure: five steps always in the same order
Find two non-negative real numbers whose sum is exactly $20$, such that their product is as large as possible.
Find two non-negative real numbers whose sum is exactly $20$, such that their product is as large as possible.
Maximum profit: the classic business question
A mobile phone accessories company has determined that the monthly profit $B(x)$, expressed in euros, from selling $x$ custom phone cases is given by the function:…
A mobile phone accessories company has determined that the monthly profit $B(x)$, expressed in euros, from selling $x$ custom phone cases is given by the function:
$B(x) = -x^2 + 120x - 500$
How many cases must be sold to achieve maximum profit? What is this maximum profit?
The visibility of a social media post (measured by the number of "likes") during the first $10$ hours after uploading follows the function: $V(t) = 20t^2 - 2t^3$ where…
The visibility of a social media post (measured by the number of "likes") during the first $10$ hours after uploading follows the function:
$V(t) = 20t^2 - 2t^3$
where $t$ is the time in hours ($0 \le t \le 10$). At what moment does the post reach its peak visibility?
Geometry problems: the physical domain of the variable
The second classic type of exam question: a fixed amount of material (fencing, cardboard) and the shape that makes the best use of it. The procedure is identical, but here it is more obvious that the variable has a limited range imposed by the geometry itself.
A group of students wants to fence off a rectangular area in the school playground for a charity market. If they have $40$ metres of fencing in total, determine the…
A group of students wants to fence off a rectangular area in the school playground for a charity market. If they have $40$ metres of fencing in total, determine the dimensions of the rectangle (length and width) enclosing the maximum possible area.
A rectangular wooden frame is to be made for an advertising poster that must have an area of $16$ $m^2$. Calculate the dimensions of the poster so that the cost of the…
A rectangular wooden frame is to be made for an advertising poster that must have an area of $16$ $m^2$. Calculate the dimensions of the poster so that the cost of the wood for the frame is at a minimum (that is, so that the perimeter is at a minimum).
Minimising cost: average cost and marginal cost
A young programmer is designing a time management application. He has determined that a user's productivity, measured in "focus points", follows the function…
A young programmer is designing a time management application. He has determined that a user's productivity, measured in "focus points", follows the function $P(t) = -t^3 + 9t^2 + 21t$, where $t$ is the time in hours elapsed since the start of the working day ($0 \le t \le 8$). Calculate at what time of day the user reaches maximum productivity and how many points they obtain at that moment.
An open-topped cardboard box in the shape of a cuboid with a square base is to be designed for a new tablet model. The volume of the box must be exactly…
An open-topped cardboard box in the shape of a cuboid with a square base is to be designed for a new tablet model. The volume of the box must be exactly $2000 \text{ cm}^3$. Find the dimensions of the box (base side and height) that minimise the amount of cardboard used in its manufacture.
Maximising revenue: adjusting the price
A delivery drone needs to travel from a charging point $A(0, 4)$ to a warehouse $B(10, 2)$. To optimize its battery, the drone must land at a point $P(x, 0)$ on a…
A delivery drone needs to travel from a charging point $A(0, 4)$ to a warehouse $B(10, 2)$. To optimize its battery, the drone must land at a point $P(x, 0)$ on a wireless charging pad located on the x-axis, and from there continue towards $B$.
The total energy cost function is given by the distance traveled: $E(x) = \sqrt{x^2 + 16} + \sqrt{(10-x)^2 + 4}$. Find the exact position of point $P$ that minimizes total energy consumption.
Optimisation with exponentials and logarithms
In more advanced problems, the function to optimise includes exponentials or logarithms: the five-step procedure does not change, only the derivative is more laborious.
A technology company has launched a new social network. The number of active users, measured in millions, follows the function $U(t) = \frac{40t^2}{e^{0,5t}}$, where $t$…
A technology company has launched a new social network. The number of active users, measured in millions, follows the function $U(t) = \frac{40t^2}{e^{0,5t}}$, where $t$ is the time in months since its launch ($t \geq 0$). Simultaneously, the monthly maintenance costs, in thousands of euros, are given by $C(t) = 10t + 5$. To match scales, we will work with $\frac{C(t)}{100}$ and define the difference $D(t) = U(t) - \frac{C(t)}{100}$.
- a) Determine in which month the number of active users reaches its maximum level and calculate how many millions of users there are at that moment.
- b) Calculate $D'(t)$ and study its sign using the calculator, trying for example $t = 3,9$ and $t = 4$. State between which two values the moment when the difference $D(t)$ is maximum lies and which month it approximately corresponds to.
- c) Justify whether the maximum of $U(t)$ is absolute by analyzing the value of $U(0)$ and the long-term behavior of the function, that is, $\lim_{t\to+\infty} U(t)$.
The figure shows the graphs of $U(t)$ and of $\frac{C(t)}{100}$.
A market research study for a new personalised training application determines that the monthly profit $B(x)$, in hundreds of euros, depends on the subscription price…
A market research study for a new personalised training application determines that the monthly profit $B(x)$, in hundreds of euros, depends on the subscription price $x$ (in euros), according to the function:
$B(x) = (x - 5)^2 \cdot \ln(x - 4)$ for $x > 4$.
Calculate the subscription price that maximises profit in the interval $[6, 15]$. Check whether there is any point of inflection in this interval indicating a change in the growth trend of profits.