Optimize the profit function using Hessian.
The firm is producing three goods chairs (C), table (t), and sofa (S) with processed woods.
Demand Function for chair C=200-6Pc+2Pt-2Ps,
Demand Function for table T=360+2PC-8Pt+4Ps and
Demand Function for sofa S=400+4Pc+2Pt-10Ps where
Total cost TC=2C2 + 472 +252 + 2CT + 27S + 2CS
Optimize the profit function using Hessian.
Where C, T, and S represents the quantity of chair, table and sofa, and Pc, Pt, Ps represents the respective price of them.
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Math
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