Calculate the equilibrium income

Reference no: EM132606720

QUESTION ONE

Demand and supply functions in a two commodity markets
Are given as;
Qd₁ =20-8P_I+P₂
Qs₁ =-7+3P₁
Qd₂ =19+2P₁-4P₂
Qs₂ =-11+2P₂
Find;
P₁
P₂
Q₁
Q₂

QUESTION TWO
A closed economy is described by the following functions;
C=10 +0.8Yd
I =12
G =25
T =5
Calculate the equilibrium income

QUESTION THREE
Assume a firm's AR function is given by
AR =4.5Q +3Q² +1
While AC function is given by
While AC function is given as;
AC = 2.8Q+ 3Q²-4

Find the functions for;
TR
TC
MR
MC
profit function Σ
Find the roots of the profit function, Σ =-Q²-15Q -50

QUESTION FOUR

Determine the critical values for the following function and find out whether the critical value constitute a maximum or a minimum

Y = X³ - 12X² +36X+8

Determine the critical values of x and y and find out whether these values are extreme values of minimum.

Y = 1/3 X³ +X² - 35X +10

QUESTION FIVE

Let A = [1, 2, 3]
B = [3, 4, 5]
C = [2, 5, 7]
Use the above values to find the operations on sets below;
A∪(B∪C) and A∩(B∩C)
A∩B and A∪B
A∪(B∩C), A∩(B∪C) and (A∪B) ∩(A∪C)

Reference no: EM132606720

Questions Cloud

Explain what incentives the chosen market system : What circumstances would force firms within the selected market to likely produce more, or less, of a good or service?

The role of managers and technology : The role of managers and technology, Deficiencies in clinical use of technology, Technology and medical errors.

Expansionary monetary policy measures : Assume there is a desire to reduce unemployment in an economy. Describe two (2) expansionary monetary policy measures you would recommend

Inverse relationship between inflation and unemployment : Present a thorough analysis of the inverse relationship between inflation and unemployment reflected by the Phillips curve.

Calculate the equilibrium income : Demand and supply functions in a two commodity markets - Calculate the equilibrium income - Determine the critical values of x and y and find out whether these

Explain pros and cons of new technology : Explain 3 pros and 3 cons of new technology in today's healthcare industry.

Results of the operations of a laptop producer : The following table shows the results of the operations of a laptop producer in 2020.

Technology to enable informed policy-making : What is policy informatics? How is policy informatics using technology to enable informed policy-making?

Coaching mechanisms of action mentioned : Utilizing the Four Coaching Mechanisms of Action mentioned in the text, how would you apply each in coaching either an employee

User Account

All Pages