please use a good handwriting 2) (30) Solve questions below by Langrange method. a) A firm...
Suppose a firm with a cost structurec(y)=y2+2y+4is the only producer of the good in the market. Market demand is given asy(p)=40−2pWhat is the profit-maximizing quantity for this firm?
hi i need answer from part d Question 2 (48 marks) Consider a firm which produces a good, y, using two factors of production, xi and x2 The firm's production function is Note that (4) is a special case of the production function in Question 1, in which α-1/2 and β-14. Consequently, any properties that the production function in Q1 has been shown to possess, must also be possessed by the production function defined in (4). The firm faces exogenously...
If a consumer is spending a small portion of his or her income on a good, then the demand for the good is likely to be inelastic. True False A consumer is in equilibrium when the slope of his or her indifference curve is equal to his or her budget constraint. True False The below figure shows the various combinations of the goods X and Y that yield different levels of utility. Figure 7.3 In Figure 7.3, if the price...
please calculate carefully The demand for good (Qx) is given by the following equation: Qx = 20,200 - 12.5 Px + 5 Py-M + 1.5 Ax Suppose the firm spends $3,000 per week on advertising (Ax), Px is $80, Py is $60, and income per capita (M) in the market area is $22,000. (a) Calculate the elasticity of demand for good X with respect to its own price, the price of good Y, and Income per capita. (3) (b) Calculate...
CENGAGE MINDTAP Q Search this course Numbers and Graphs: Consumer Choice: Maximizing Utility and Behavioral Economics (Ch 20) 4. Working with Numbers and Graphs Q4 Each unit of good X costs $2, and each unit of good Y costs $1. The following table contains information on Gilberto's utility from goods X and Y. Total Utility of Good X (Utils) Total Utility of Good Y (utils) Units of Good x Units of Good Y 20 38 33 52 un WN Suppose...
A) If = -1.50 for a good, and price of the good decreases by 20 percent, then: Group of answer choices quantity demanded will increase by 3 percent. quantity demanded will decrease by 30 percent. quantity demanded will increase by 30 percent. total revenue will remain unchanged. total revenue will decrease. B) The table below shows the total utility associated with various units of goods X and Y. Table 7.5 Quantity Total Utility from X Total Utility from Y 1...
#14 please i lution of the great the equation. PROBLEMS: Section 3.8 1/2 use the method of variation of parameters Brahim a parimar solution of the given nonhomogeneous equa- The found the general solution of the equation bytes 27+ y = 1 1 - = - y = 5e 14. xy + xy' - 4y = x(x + x) 1,(x) = x2 Y 2(x) = x-2 15. (1 - x)y" + xy' - y = 2(x - 1)2- y(x) =...
All of 10 questions, please. 1. Find and classify all the critical points of the function. f(x,y) - x2(y - 2) - y2 » 2. Evaluate the integral. 3. Determine the volume of the solid that is inside the cylinder x2 + y2- 16 below z-2x2 + 2y2 and above the xy - plane. 4. Determine the surface area of the portion of 2x + 3y + 6z - 9 that is in the 1st octant. » 5. Evaluate JSxz...
QUESTION 6 Total Utility from Y 85 130 160 185 200 210 215 Total Utility from X 24 Quan 56 74 80 84 Refer to the table above. Given that the price of good X is $2 per unit, the price of good Y is $5 per unit, and that the consumer spends a total of $44 on both goods, what is the total utility associated with the utility-maximizing combination? A 280 B. 294 C. 172 D.We don't have enough...
Consider the details of good 'x' given and answer the questions below. Use illustrations to explain your answer, where appropriate. a. Do you "Agree" or "Disagree" with the following? Explain your answers. Price (Rs.) 12 20 Quantity demanded (Units) 120 40 Quantity supplied (Units) 20 140 i. The Price Elasticity of Demand for fuel is more elastic in the long run. ii. The broader the definition of a commodity, the lower its Price Elasticity tends to be. iii. The higher...