Reference no: EM13623798

<br/> <br/>Problem 1. <br/>Using graphing strategy plot the graph of the function f(x) =2x3 +3x2 -12x <br/> <br/> <br/> <br/>Problem 2. <br/>Problem 3. <br/>A demand function is given by Q(P) = 800-25P <br/>a) Find the elasticity. <br/>b) Find the elasticity at a price of $12 per barrel, stating whether the demand is elastic or inelastic. <br/>c) Find the elasticity at a price of $16 per barrel, stating whether the demand is elastic or inelastic. <br/>d) Find the elasticity at a price of $20 per barrel, stating whether the demand is elastic or inelastic. <br/> <br/>Problem 4. <br/>Consider Cobb-Douglas production function Q=9K^(2/3) L^(1/3) <br/> Find total output when K=1000 and L=125. <br/> Derive marginal productivity of capital. <br/> Derive marginal productivity of labor. <br/> Calculate these partial derivatives when K=1000 and L=125 <br/>