Suppose the response of a drug is modeled by the function ?(?) = ?2/ 3+?2 where...

Suppose the response of a drug is modeled by the function ?(?) = ?²/ 3+?² where ? is the drug concentration. At what drug concentration does the inflection point occur? Show that there is a change of concavity at that point.

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milcah answered 2 years ago

Suppose that the production function is given by: ? = ?(?, ?) = ?(?)^1/3(?)^1/3 where ?...

Suppose that the production function is given by: ? = ?(?, ?) = ?(?)^1/3(?)^1/3 where ? > 0 is total factor productivity, ? indicates the amount of capital employed and ? the amount of labor employed. Wages are ? and the rental cost of capital is ?. Suppose that in the short run capital is fixed, i.e., ? = ?bar. Moreover, the firm must pay ??bar regardless of the production level a) Solve the cost minimization problem. That is, determine...

A bicyclist is riding on a path modeled by the function f(x) = 0.07x, where x...

A bicyclist is riding on a path modeled by the function f(x) = 0.07x, where x and f(x) are measured in miles (see figure). Find the rate of change of elevation at x = 5.

3. Suppose that my utility function is given by U=1-0.2D^2, where D is the value of...

3. Suppose that my utility function is given by U=1-0.2D^2, where D is the value of the disease. The first 4 months of the year, we have the flu, where D=2.The next 2 months, we are in perfect health, where D=0. The last 6 months of the year we have a head cold, D=1. What is the value of QALY? Round to THREE decimal points. 4. Suppose that drug A costs 15,000, and it extends life by 5 QALYS. What...

Suppose in the market for corn the demand function is modeled by Qd=-5P+700 and in the...

Suppose in the market for corn the demand function is modeled by Qd=-5P+700 and in the short run the market is supplied by your firm and 99 other firms with exactly the same cost schedule as you. Find the equilibrium market price P*, the equilibrium market quantity Q*, your firm's profit-maximizing quantity q*, and your firm's profit at this price and quantity in the short run. Note: the quantity produced increases in increments of 1 and the fixed cost is...

Outside temperature over a day can be modeled as a sinusoidal function. Suppose you know the...

Outside temperature over a day can be modeled as a sinusoidal function. Suppose you know the high temperature of 92 degrees occurs at 3 PM and the average temperature for the day is 85 degrees. Find the temperature, to the nearest degree, at 10 AM. Please provide step by step how to find x after finding equation

Suppose a country has the production function Y = 2 √?, where Y = output and...

Suppose a country has the production function Y = 2 √?, where Y = output and K = physical capital. People devote 30% of output to producing new capital goods ( = 0.30). Further assume that capital depreciates at the rate of 3 percent per period (δ = 0.03). a. Suppose that the country invested in 6 units of new capital in the current period. By how many units will output change in the next period? b. What are the...

1. Outside temperature over a day can be modeled as a sinusoidal function. Suppose you know...

1. Outside temperature over a day can be modeled as a sinusoidal function. Suppose you know the high temperature of 65 degrees occurs at 4 PM and the average temperature for the day is 60 degrees. Find the temperature, to the nearest degree, at 6 AM. ------degrees 2. Outside temperature over a day can be modeled as a sinusoidal function. Suppose you know the temperature varies between 62 and 88 degrees during the day and the average daily temperature first...

2-3 paragraph response. Describe two distinct reasons why someone who has never used a drug in...

2-3 paragraph response. Describe two distinct reasons why someone who has never used a drug in his or her life might refuse a test at work. Convert those reasons into well-founded ethical arguments.

2. Suppose that there is a drug that was shown to be effective at treating the...

2. Suppose that there is a drug that was shown to be effective at treating the novel coronavirus. Only two firms can produce this drug. The (inverse) demand function for the drug is given by P = 200 − 2Q where Q is the quantity of the drug available in the market and P is the market price. Firm 1 produces the drug with a constant marginal cost of 8 USD (total costs are equal to 8Q for firm 1)...

A plant’s production function is Q = L^1/3 K^2/3, where L is hours of labor and...

A plant’s production function is Q = L^1/3 K^2/3, where L is hours of labor and K is hours of capital. The price of labor services, w, is $40 per hour and of capital services, r, is $10 per hour. a. Derive the long-run expansion path. In words describe what the expansion path represents. b. In the short-run, the plant’s capital is fixed at K = 64. Labor, on the other hand, is variable. How much will it cost to...

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