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Q 1) For the following quadratic production function for production of an output Y, using two variable inputs, X1 and X2 : Y=18X down1-X1power2+14Xdown2-X2power 2 derive the isoquant equation for this production function by solving for X1.
Show your work clearly and do not omit important steps
Q 2 ) Derive the marginal criterion for profit maximization for a farm business as a function of output. Explain each of the terms in the marginal criterion you have derived.
A. Define each of the following: 1 Gross Domestic Product at Market Prices. 2 Gross National Product at Market Prices. 3 Gross National Product at Factor Cost. 4 National Income. B. Explain the relationship between Gross National Product at Market ..
suppose that the firms initial demand curve had been p 5000 - 50q and that it shifted inward to p 4000 - 50q. assume
In using game theory, both parties have dominant strategies that lead to a best case for each individual. However, these decisions result in a worst case for the combination of the two. Discuss ways that each party can achieve a better solution.
a monopolist faces a demand curve given byp 105 - 3q where p is the price of the good and q is the quantity demanded.
What is the present worth of the total 20 payments, occurring at the end of every four months (i.e. the first payment is in four months), which is $400, $500, $600, increasing by a fixed sum. Interest is 12% nominal per year, compounded monthly.
Explain the two causes of market failures. Given their definitions, could a market be affected by both types of market failures simultaneously What divergences arise between equilibrium output and efficient output when (a) negative externalities a..
Assume that the market demand for bus rides is given through Q=420-30P and market supply of bus rides is given through Q=30P, where Q is bus rides each week in thousands
cost curvessuppose a firm has a total cost functiontc 23q3 -q2 30qa derive the mathematical expressions for the mcatc
An engineer planning for her retirement will deposit 15 percent of her salary each year into a stock found. The initial balance in her stock found (year 0) is $5,000. If her salary this year is $120,000 (end of year 1) and she expects her salary to i..
currently the interest yield on short term treasury bills is near zero. longer term rates for mortgages are under 4.
globalization was welcomed around the world at the beginning of the 1990s. different trade theories were used to
In 1997, the Federal government reinstated a ten percent excise tax on airline tickets. The industry bid to pass on the full ten percent ticket tax but was only able to boost fares by four percent.
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