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The company produces two types of goods in quantities of x and y, with market prices...
7. (5 points) There are two firms X and Y. Firm X produces goods x and Firm Y produces goods y. T...
7. (5 points) There are two firms X and Y. Firm X produces goods x and Firm Y produces goods y. The unit price of x is $1 and the unit price of y is $2. Labor is the only input of production. The wage rate for workers in Firm X is $20 while the wage rate for workers in Firm Y is $15. The production function of the paper mill is However, since the paper mill drains chemical waste...
A company produces two types of solar panels per year: x thousand of type A and...
A company produces two types of solar panels per year: x thousand of type A and y thousand of type B. The revenue and cost equations, in millions of dollars, for the year are given as follows. R(x,y) = 4x + 5y C(XY) x2 - 4xy+By2 + 12x - 51y-2 Determine how many of each type of solar panel should be produced per year to maximize profit. The company will achieve a maximum profit by selling solar panels of type...
Country N produces only goods A and B. Quantities and prices of these goods for years...
Country N produces only goods A and B. Quantities and prices of these goods for years 2017 and 2018 are shown below. The base year is 2017. Year 2017 2018 Pa 4 4 In addition, we know that aggregate private consumption c was 1 in 2017 and 2 in 2018 Finally, the country's government imposes taxes T on income (real GDP) Y. Thus, the consumption function is: There are two types of taxes and the government can use only one...
A firm produces two goods (the quantities of the two goods are denoted, Q1 and Q2). The demand fu...
A firm produces two goods (the quantities of the two goods are denoted, Q1 and Q2). The demand functions are Pi = 50-0.0075Q1 and P.-40-0.004Q2. Total cost is given by TC 19,800 + 20Q1 + 2002, Marginal costs are constant, so pricing at marginal costs results in a loss of the fixed costs for the firm. To eliminate this loss, prices must be raised. The regulator is considering three different possible sets of prices: Set 1: P121 and P2 23.98...
A factory produces 2 types of goods, namely goods X and Y. To produce an item...
A factory produces 2 types of goods, namely goods X and Y. To produce an item X requires production costs XA2 1200 and for item Y requires a cost of Зул2 + 800. If the factory receives an order of 1200 items per day, for both types of goods X and Y per day. How many items X and Y must be produced to minimize production costs per day. Complete with the Lagrange multiplied method.
ZOOM+ Name: Country N produces only goods A and B. Quantities and prices of these goods...
ZOOM+ Name: Country N produces only goods A and B. Quantities and prices of these goods for years 2017 and 2018 are shown below. The base year is 2017. Year 2017 2018 1 4 4 In addition, we know that aggregate private consumption C was 1 in 2017 and 2 in 2018. Finally, the country's government imposes taxes T on income (real GDP) Y. Thus, the consumption function is: There are two types of taxes and the government can use...
A country produces only ice cream and pic. Quantities and prices of these goods for the...
A country produces only ice cream and pic. Quantities and prices of these goods for the last several years are shown below. The bose year is 2008. Prices and Quantities Year Price of Ice Cream Quantity of Ice Cream Price of Pie Quantity of 2008 $250 40 2009 $3.00 2010 $4.00 Refer to Table 23-9. This country's inflation rate from 2009 to 2010 to the nearest tenth was A.2.9% $5.00 $6.00 $6.00 B. 13.3% C.8.8% D. None of the above...
om Saipan Company Saipan Company produces and sells two types of autom produces and sells two...
om Saipan Company Saipan Company produces and sells two types of autom produces and sells two types of automobile batteries, the heavy duty HD- 240 and the long life LL-250. The 2017 sales budget for the two products is as follows: 1st quarter 2nd quarter 3rd quarter 4th quarter HD-240 5,000 7,000 8,000 10,000 LL-250 10,000 18,000 20,000 35,000 The January 1, 2017 inventory of HD-240 and LL-250 units is 4,000 and 8,000 respectively. Management desires an ending inventory each...
1. Suppose that a quantiies q and q2, respectively, and that it sells them at prices...
1. Suppose that a quantiies q and q2, respectively, and that it sells them at prices p1 and p2, respectively Suppose that the company's production costs are sporting goods company manufactures basketballs and soccer balls in given by C 2q 2q 10. (a) Find the maximum profit that the company can make assuming that prices are fixed the price p (b) Find the rate of change of the maximum profit you found in part (a) increases. Is it wise for...
A company manufactures two products. The price function for product A is p = 19 − 1 2 x (for 0 ≤ x ≤ 38), and fo...
A company manufactures two
products. The price function for product A is
p = 19 −
1
2
x
(for 0 ≤ x ≤ 38),
and for product B is
q = 33 − y
(for 0 ≤ y ≤ 33),
both in thousands of dollars, where x and y
are the amounts of products A and B, respectively. If the cost
function is
C(x, y) = 11x + 17y − xy + 7
thousands of dollars, find the quantities...
7. (5 points) There are two firms X and Y. Firm X produces goods x and Firm Y produces goods y. The unit price of x is $1 and the unit price of y is $2. Labor is the only input of production. The wage rate for workers in Firm X is $20 while the wage rate for workers in Firm Y is $15. The production function of the paper mill is However, since the paper mill drains chemical waste...
A company produces two types of solar panels per year: x thousand of type A and y thousand of type B. The revenue and cost equations, in millions of dollars, for the year are given as follows. R(x,y) = 4x + 5y C(XY) x2 - 4xy+By2 + 12x - 51y-2 Determine how many of each type of solar panel should be produced per year to maximize profit. The company will achieve a maximum profit by selling solar panels of type...
Country N produces only goods A and B. Quantities and prices of these goods for years 2017 and 2018 are shown below. The base year is 2017. Year 2017 2018 Pa 4 4 In addition, we know that aggregate private consumption c was 1 in 2017 and 2 in 2018 Finally, the country's government imposes taxes T on income (real GDP) Y. Thus, the consumption function is: There are two types of taxes and the government can use only one...
A firm produces two goods (the quantities of the two goods are denoted, Q1 and Q2). The demand functions are Pi = 50-0.0075Q1 and P.-40-0.004Q2. Total cost is given by TC 19,800 + 20Q1 + 2002, Marginal costs are constant, so pricing at marginal costs results in a loss of the fixed costs for the firm. To eliminate this loss, prices must be raised. The regulator is considering three different possible sets of prices: Set 1: P121 and P2 23.98...
A factory produces 2 types of goods, namely goods X and Y. To produce an item X requires production costs XA2 1200 and for item Y requires a cost of Зул2 + 800. If the factory receives an order of 1200 items per day, for both types of goods X and Y per day. How many items X and Y must be produced to minimize production costs per day. Complete with the Lagrange multiplied method.
ZOOM+ Name: Country N produces only goods A and B. Quantities and prices of these goods for years 2017 and 2018 are shown below. The base year is 2017. Year 2017 2018 1 4 4 In addition, we know that aggregate private consumption C was 1 in 2017 and 2 in 2018. Finally, the country's government imposes taxes T on income (real GDP) Y. Thus, the consumption function is: There are two types of taxes and the government can use...
A country produces only ice cream and pic. Quantities and prices of these goods for the last several years are shown below. The bose year is 2008. Prices and Quantities Year Price of Ice Cream Quantity of Ice Cream Price of Pie Quantity of 2008 $250 40 2009 $3.00 2010 $4.00 Refer to Table 23-9. This country's inflation rate from 2009 to 2010 to the nearest tenth was A.2.9% $5.00 $6.00 $6.00 B. 13.3% C.8.8% D. None of the above...
om Saipan Company Saipan Company produces and sells two types of autom produces and sells two types of automobile batteries, the heavy duty HD- 240 and the long life LL-250. The 2017 sales budget for the two products is as follows: 1st quarter 2nd quarter 3rd quarter 4th quarter HD-240 5,000 7,000 8,000 10,000 LL-250 10,000 18,000 20,000 35,000 The January 1, 2017 inventory of HD-240 and LL-250 units is 4,000 and 8,000 respectively. Management desires an ending inventory each...
1. Suppose that a quantiies q and q2, respectively, and that it sells them at prices p1 and p2, respectively Suppose that the company's production costs are sporting goods company manufactures basketballs and soccer balls in given by C 2q 2q 10. (a) Find the maximum profit that the company can make assuming that prices are fixed the price p (b) Find the rate of change of the maximum profit you found in part (a) increases. Is it wise for...
A company manufactures two
products. The price function for product A is
p = 19 −
1
2
x
(for 0 ≤ x ≤ 38),
and for product B is
q = 33 − y
(for 0 ≤ y ≤ 33),
both in thousands of dollars, where x and y
are the amounts of products A and B, respectively. If the cost
function is
C(x, y) = 11x + 17y − xy + 7
thousands of dollars, find the quantities...
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