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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.
the demand for blankets has been estimated y^=0.5-1.5x2+3.0x3
A chance sample of visitors to a National Park was interviewed regarding their impressions of the Park. Of 200 interviewees, 120 said that they would probably make a return visit
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Assume the following table gives the joint PDF (probability distribution function, not Adobe document!!) of two discrete variables, x and Y. Vari
Can you draw a line which starts from left to right has a positive slope?
Production Functions, Labor Markets, and a Small Open Economy. In 2007, the Icelandic economy was in general equilibrium, the supply of labor was a positive function of the real
demand function(qd)=650-5p-p2 where p=10
goldfield quandt test solution
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