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The firm is considering manufacturing a second product in its factory alongside the first. The demand functions for the two products are: Qd1=180 - 4P1
Qd2=90 - 2P2 where the subscripts 1 and 2 refer to product 1 and product 2, respectively. The firm now faces a total cost function: TC= Q+150where Q= Q1 + Q2
a) Dtermine the new total profit function for the firm as a function of Q1 and Q2.
b) Using your new profit function measured in part (b)(i) find the level of output for every product at the profit maximising point and display your outcome is a maximum.
Replicate the estimations in Table 2 on page 82 of Graddy (1995), but excluding the data of King Whiting.
How can a person achieve his goal for development?Explain it with 5 examples.
Hello, I have an online economics quizzes. three quizzes each quiz 50 questions for 1.5 hour. its on R. Glenn Hubbard and Anothony Patrick O''Brien- Microeconomics, 4th Ed.I did th
Choose Y and X variables to model on the Household and the Environment Survey 2006. Using Ox software to write a program to do estimation, and then write a report based on the an
(a) Estimate how much more or less workers on average earn when they work for government as opposed to private sector, holding their characteristics constant. Interpret the finding
remedial measure of multicolinearity
Factor that affect the volume of production
Determine the four stationary points of the function Z= 2x 3 +y 3 -18x -12y +50 according to whether they define a maximum, minimum, or saddle point.
I could not understand the matrix of technical coefficents
A firm has the certain total revenue (TR) function: TR=(4Q+2) e 4Q where Q is Quantity Find the firm's marginal revenue function.
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