User Account

All Pages

Solve the differential equation to find the total cost

Assignment Help Macroeconomics
Reference no: EM132131757

Question -

a. A firm producing two products X and Y where x and y are the quantity of product X and Y produced respectively. If the firm produces on the same isocost and has a fixed cost of $1000.

Given the marginal costs, ∂C/∂x = 14xy + 15x2 and ∂C/∂y = 7x2 + 12y.

i. Show that (∂C/∂x)dx + (∂C/∂y)dy = 0 is an exact differential equation.

ii. Hence, solve the differential equation to find the total cost TC(x, y).

b. A firm produces two goods, X and Y. If x is the quantity of good X demanded and y is the quantity of good Y demanded and their corresponding prices px and py.

Given that the demand functions of the firm are: x = 2py - 4px + 80 and y = -2py + 2px + 50. Further, that the joint total cost function of the firm is C(x, y) = x2 + xy + 3y2.

i. Find an expression in terms of x and y for the profit function.

ii. Determine the quantities of x and y that maximizes the profit.

Reference no: EM132131757

Questions Cloud

Calculate the concentrations at eqbm : Calculate the concentrations at eqbm of H2CO3, HCO3-, CO32-, and H+ in a saturated aq solution of H2CO3 in which the original
Calculate the number of molecules : How do I calculate the number of molecules needed for lethal dose? I am given the chemical name's LD50 and the "Estimated Lethal Dose (in grams) for 60kg human.
Identify the element oxidized : In the above redox reaction, use oxidation numbers to identify the element oxidized, the element reduced, the oxidizing agent and the reducing agent.
Mole of ephedrine hydrochloride per liter of solution : What is the pH of a solution containing both 0.1 mole of ephedrine and 0.01 mole of ephedrine hydrochloride per liter of solution?
Solve the differential equation to find the total cost : A firm producing two products X and Y where x and y are the quantity of product X and Y produced respectively. Solve differential equation to find total cost
What are the equations for molarity : What are the equations for Molarity, molality, density, ppm, ppb, mass percent, Volume percent, and mole percent?
Explain the tradeoffs or decisions : Describe divide and conquer algorithms in your own words. Why are divide and conquer algorithms useful?
Mammals around when the dinosaurs occupied the land : Why were there no large mammals around when the dinosaurs occupied the land?
The transmission of data for a tcp connection : Assume that all nodes are on the same network, and the DNS lookup and ARP requests have already been completed.

Reviews

Write a Review

Macroeconomics Questions & Answers

  Inflation targeting be a good policy

Why might it be difficult for the Fed to formally adopt inflation targeting?  Would inflation targeting be a good policy for the Fed in the present economic environment

  In using the taylor rule

In using the Taylor Rule as a guideline for monetary policy, what are the pros and cons of using forecasted values of inflation and output rather than observed values of these variables?

  Describe the present economic crisis situation in europe

Describe the present economic crisis situation in Europe.  Why has it been so difficult for the Europeans to find a solution to this problem?   Comment on what implications the crisis may have for the rest of the world if Europeans are not able to ag..

  Long-term federal government budget problems

Question:. Explain why there are long-term Federal government budget problems. Explain why the base-line forecast of the CBO is misleading.

  Derive and compare demand curve

Question based on Derive and compare demand curve,  Derive Ambrose's demand function for peanuts. How does it compare with Johnny's demand curve for peanuts?

  Problem based on utility function

Problem based on  Utility Function - Problem,  Answer and explain the following using a diagram which is completely labeled.

  Laffer curve : tax rate and tax revenue

Question based on Laffer Curve : Tax Rate and Tax Revenue,  Do raising tax rates necessarily raise tax revenue? What factors affect how tax revenue changes when tax rates change?

  Problem - income elasticity of demand

Problem - Income Elasticity of Demand,  Interpret the following Income Elasticities of Demand (YED) values for the following and state if the good is normal or inferior; YED= +0.5 and YED= -2.5

  Positive balance of payment

Question Positive Balance of Payment: "Things will look good for the US if we could just get to where we are consistently running a positive Balance of Payments."

  Effect of recession on the investment curve

Comment on the effect of a recession on the investment curve (only) and on the level of savings, investment, and the equilibrium real interest rate in the financial crisis that hits United States first starting in fall 2007.

  Affect of falling domestic investment on trade surplus and

How will a fall in domestic investment affect the trade surplus and net capital outflows in the domestic economy, the trade deficit and capital inflows in the rest of the world.

  Crises in the banking sector and bank run

Banking crises crisis decreases depositors' confidence in the banking system. What would be the effect of a rumor about a banking crisis on checkable deposits in such a country?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd