2)
Consider the cost function: C(w1,w2,q)=min{w1,w2}q
Derive the production function and the conditional demand
functions of the factors of production.
3) A monopolist firm operates in a market where the inverse
demand function is given by P (Q) = 24-2Q. The average unit cost of
production of the firm is 2. Calculate The price-quantity pair
which maximizes the profit of the monopolist and calculate the
elasticity of the demand, the profit of the firm and the dry loss
of well-being....
3. The market demand for labour is given by w = 18 – 0.05L,
where w is the wage rate ($/hr) and L is the number of workers the
firm want to employ. The market supply of labour is given by w = 10
+ 0.15L, where w is the wage rate ($/hr) and L is the number of
workers who want to work. The government introduces the payroll tax
$1 per hr per worker.
a. What is the portion...
how do you find the demand functions for leisure and consumption
and the labor supply function when all that is given is utility
function and price of a good?
Consider the linear transformation T: R^4 to R^3 defined by T(x,
y, z, w) = (x +2y +z, 2x +2y +3z +w, x +4y +2w)
a) Find the dimension and basis for Im T (the image of T)
b) Find the dimension and basis for Ker ( the Kernel of T)
c) Does the vector v= (2,3,5) belong to Im T? Justify the
answer.
d) Does the vector v= (12,-3,-6,0) belong to Ker? Justify the
answer.
Consider the following functions. f(x) = x − 3, g(x) = |x +
3|
Find (f ∘ g)(x).
Find the domain of (f ∘ g)(x). (Enter your answer using interval
notation.)
Find (g ∘ f)(x).
Find the domain of (g ∘ f)(x). (Enter your answer using interval
notation.)
Find (f ∘ f)(x).
Find the domain of (f ∘ f)(x). (Enter your answer using interval
notation.)
Find (g ∘ g)(x).
Find the domain of (g ∘ g)(x). (Enter your answer using...
How do I check something is analytic.
C-R is necessary but not sufficient. i was told that I must also
check if the partial derivatives are continuous. How would I do
that?