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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.
Ask question #are there any welfare or subsidy payment that should be reviewed or added?
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I have a few econometric that require the use of R to generate the answer
Ask q2. Using a sample of 545 full-time workers, a researcher is interested in the question as to whether women are systematically underpaid compared with men. First, a research es
Problem 1. Consider the demand function Q(p 1 , p 2 , y) = p 1 -2 p 2 y 3 , where Q is the demand for good 1, p 1 is the price of good 1, p 2 is the price of good 2 and y is t
the demand for blankets has been estimated y^=0.5-1.5x2+3.0x3
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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