Question

1. Which of the following could represent a function, f (x,y), with first-order partial derivatives ∂ƒ/...

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!!!

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