Reference no: EM13544386
Problem 1.
Using graphing strategy plot the graph of the function f(x) =2x3 +3x2 -12x
Problem 2:
The daily demand equations for the sale of brand A coffee and brand B coffee in a supermarket are
Q1(P1, P2) = 200 - 5P1 + 4P2 (Brand A)
Q2(P1, P2) = 300 + 2P1 - 4P2 (Brand B),
determine whether the indicated products are competitive, complementary, or neither.
Problem 3.
A demand function is given by Q(P)=800-25P
a) Find the elasticity.
b) Find the elasticity at a price of $12 per barrel, stating whether the demand is elastic or inelastic.
c) Find the elasticity at a price of $16 per barrel, stating whether the demand is elastic or inelastic.
d) Find the elasticity at a price of $20 per barrel, stating whether the demand is elastic or inelastic.
Problem 4.
Consider Cobb-Douglas production functionQ=9K(2/3)L(1/3)
a) Find total output when K=1000 and L=125.
b) Derive marginal productivity of capital.
c) Derive marginal productivity of labor.
d) Calculate these partial derivatives when K=1000 and L=125