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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.
why do we make use of regression analysis in our econometrics analysis
You are a logistics consultant for a rapidly growing online retail company. They plan to expand their operations to a new geographical region.Task: Develop a comprehensive logistic
Which of the following is an example of derived demand?
diff between Mrs and Mrts
Can you explain the basic introduction of this methodology?
Profit maximization is theoretically the most sound but practically unattainable objective of business firms. In the light of this statement critically appraise the Baumol’s sales
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
QM2 Econometric Project As part of the course requirements you have to undertake an econometric evaluation of an economic issue using data that you have gathered either from the ho
how weather affect the change in supply?
The equilibrium conditions for three related markets are given by: (a)Write this system of equations in matrix notation of the form Ax = B. (b) Find the determinant
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