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Find the ?rst and second derivative of each function and determine whether each function is convex or concave. If it is both, ?nd the ranges for which it is convex and ranges for which it is concave:
(a) f(x) = x^2 − 3x + 12
(b) f(x) = 6x^(1/2) + 1 ; 0 < x < ∞
(c) f(x) = x^3 − 4x^2 + 4x – 4
a. What is the after-tax present worth of the car? b. What is the Equivalent Annual Cost (EAC) of the car in its first year?
How many major wireless phone handset manufacturers are there?
Assume that oil prices increase. In the short run we observe.Demand pulls inflation.
The demand for comic books is given by P = 90 - Qd. Supply of comic books is given by P = 2Qs. Suppose that the government imposed a price floor of $70 in this market. What will be the minimum size of deadweight loss?
Mike finds a Coke machine in an abandoned part of town and is extremely thirsty. The Coke machine requires exact change - two quarters and a dime. No other combination of coins will make anything come out of the machine. Draw a graph that illustrates..
Discuss how the two alternatives listed differ on the public-private continuum. Also describe how appropriate public policy might differ as the industry moves.
Vasco likes spare ribs, R, and fried chicken, C. His utility function is: U(C, R) = 40R^2C. His weekly income is $180, which he spends on only ribs and chicken. If he spends $20 for a slab of ribs and $10 for a chicken, what is his optimal consumptio..
All licensed drivers are required by law to purchase a minimum level of auto and motorcycle insurance (well, if they own either of the two). However, the vast majority choose to buy much more insurance than the required minimum. It’s also true t hat ..
Draw a demand and supply diagram of a bond market and show the equilibrium price and quantity demanded and supplied in the diagram. What are the factors that shift these demand and supply of bonds? What is the relationship between bond market prices ..
Currently in the US there is a demographic trend that has caused dramatic increases in the number of students attending universities¾the children of Baby Boomers have grown up and are ready for college. Campus housing is a fixed good (in the short ru..
Suppose there is a $200 billion recessionary gap. If there are no taxes or imports to restore the economy back to potential GDP how much should government expenditure be changed if the marginal propensity to consume is 0.75? Does government expenditu..
Which of the subsequent statements would best describe the UK's population at present?
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