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 3 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...

Suppose that you have the following production function: ? = (100?^1/3)*(?^2/3) Where k represents the units...

Suppose that you have the following production function: ? = (100?^1/3)*(?^2/3) Where k represents the units of capital employed at production, L is the number of labor hours employed for total production. The wage rate equals to $18 per hour. The cost of capital equals $2,000 per unit. a) What are the returns of scale for this production function? Prove it b) You are currently employing 100 hours of labor. Calculate your total costs, average cost and marginal costs of...

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.

2-3 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. Meaningful response is needed to at least two of your peers.

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

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

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