(a) Suppose that the function giving the marginal cost, in dollars per gallon, when x gallons oil are made is
(eq. 1) and the fixed cost (giving the cost when no barrels of oil are made) is $80. Find a function that would give the total cost, C (x), in dollars when x gallons of oil are made in the form (eq. 2)
What is the value for the coefficient ? (Hint:
You may take the derivative of (eq. 2) term by term, and then
equate the coefficients of like terms in this expression for
and the expression given in (eq. 1).)
(Note: This problem is not asking you to find the derivative of the marginal cost function M (x). It is asking you to find a function whose derivative is
The resulting function can be called an "antiderivative" or a "primitive" or an "indefinite integral" of . This is not required for this course, but a notation that can be used is
The dx reminds us that derivatives with respect to x are involved)..
(b) In the expression
what is the value for the coefficient
(c) In the expression
what is the value of the coefficient
(d) In the expression
what is the value of the coefficient
(e) Use the cost function
to determine the cost if 2 barrels of oil are made, in dollars. (Just type a numerical answer, accurate to two decimal places).
(a) Suppose that the function giving the marginal cost, in dollars per gallon, when x gallons...
Let be the distribution function defined by Let be the Lebesgue-Stieltjes measure asociated to . Determine the measurements of the fpllowing sets: We were unable to transcribe this imageF(x) = 0 if 1+r if 2+x? if 19 if I <-1 -1 <r <0 0<r<2 > 2 We were unable to transcribe this imageWe were unable to transcribe this imageWe were unable to transcribe this imageWe were unable to transcribe this image(-1, 0]υ (1,2) 10, ) U (1, 2 (1 :...
A competitive firm has a cost function given by c(y)=2y2+98 and marginal cost of MC(y)=4y. What is the firm's supply function? Choose one: A. p(y)=4y B. y(p)=(p)/4 C. p(y)=2y2+98 D. p(y)= (p-98)/(4) How many units will the firm supply if the price is $32? What if the price is $12? What is the firm's profit when the price is $32? $ What is profit when the price is $12? $ At what price and quantity will the firm break even?...
4. Suppose that X1, X2, . . . , Xn are i.i.d. random variables with density function f(x) = 0 < x < 1, > 0 a) Find a sufficient statistic for . Is the statistic minimal sufficient? b) Find the MLE for and verify that it is a function of the statistic in a) c) Find IX() and hence give the CRLB for an unbiased estimator of . pdf means probability distribution function We were unable to transcribe this...
a) By direct substitution determine which of the following functions satisfy the wave equation. 1. g(x, t) = Acos(kx − t) where A, k, are positive constants. 2. h(x, t) = Ae where A, k, are positive constants. 3. p(x, t) = Asinh(kx − t) where A, k, are positive constants. 4. q(x, t) = Ae where A, a, are positive constants. 5. An arbitrary function: f(x, t) = f(kx−t) where k and are positive constants. (Hint: Be careful with...
Create a Matlab code using ode45 function to solve the following two equations of a pendulum: m+M)x'' - ml'' cos + ml'' sin = F -x'' cos + l'' - g sin = 0 Force = 10N 5kg pendulum initial angle = 30 We were unable to transcribe this imageWe were unable to transcribe this imageWe were unable to transcribe this imageWe were unable to transcribe this imageWe were unable to transcribe this imageWe were unable to transcribe this imageWe...
If you have the following National Income model, y = C + I + G + (X - M) C = 7.4 + 0.25 (Y - T) T = 1.6 + 0.02Y Where I = 1.9 trillion dollars, G = 3 trillion dollars, X = 2.1 trillion dollars, M = 2.6 trillion dollars. [1 0 0.33] [Y] [15.73] 0.25 -1 -0.25 . C = -7.4 0.02 0 -1 T -1.6 1. What is the determinant of A?...
(1) How can values of the function be computed accurately when x is sufficiently close to 0? (2) How can values of the function be computed accurately when x is sufficiently close to 0? We were unable to transcribe this imageWe were unable to transcribe this image
In developing empirically a cost function from observed data on a complex chemical experiment, an analyst employed normal error regression model (Yi = 0 +1Xi+ i ). 0 was interpreted here as the cost of setting up the experiment. The analyst hypothesized that this cost should be $7.5 thousand and wished to test the hypothesis by means of a general linear test. a) Indicate the alternative conclusions for the test b) Specify the full and reduced models c) Can you...
Let yp(y) be the C(2) inverse demand function facing a monopoly, where y++ is its rate of output, and let yC(y) be the C(2) total cost function of the monopoly. Assume that p(y)>0, p'(y)<0, and C'(y)>0 for all y++, and that a profit maximizing rate of output exists. Total revenue is therefore given by R(y)=p(y)y. Given that question uses an inverse demand function, the elasticity of demand, namely (y), is defined as (y)= 1/p'y p(y)/y. Why is (y)<0? Prove that...
4. True or False. Write true or false in the blanks. a, A continuous function over a closed interval will achieve exactly one local maximum on that interval ______________ b. If f(x) and g(x) both have a local maximum at x=a then has either a local maximum or a local minimum at x=a. ___________ c. If for all x and if a > b, then _____________ d. If is undefined, and if is continuous at x=c, then has a local...