1. Which of the following could represent a function, f (x,y), with first-order partial derivatives ∂ƒ/ ∂x = 3xy (xy + 2) ∂ƒ/ ∂y = x2 (2xy + 3)
A. xy (x2y + 3)
B. x3y2 + 3x2 – y – 6
C. x2 (xy2 + 3)
D. none of these
E. x3y2 + 2x2y3 + 1
2. It the consumption function is
C = 0.02Y2 + 0.1Y +25.
Find the value of Y when MPS = 0.38.
3. State the degree of homogeneity of the production function Q = 7K1/4 (5L1/2 K1/2 + 2K3/4)
A. ¼
B. ¾
C. 1
D. Not homogeneous
E. ½
4. Make x the subject of y = In (3 + e2x)
A. x = (y – In 3)/ 2
B. x = (ey – 3)/ 2
C. x = y/ (2 In 3)
D. x = [In (3 – ey)]/ 2
E. x = In (√ey – 3)
Please show all the step and explain the answer, thanks!!!
1. Which of the following could represent a function, f (x,y), with first-order partial derivatives ∂ƒ/...
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