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5) When the price of a certain commodity is p dollars per unit, customers demand r hundred units of the commodity, where How fast is the demand r changing with respect to time when the price is $6 per unit and decreasing at the rate of 25 cents per month? 1 6) The output at a certain plant is Q-0.09r20.12ry+0.04y2 units per day, where z is the number of hours of skilled labor used and y is the number of...
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While economists measure unemployment at the macroeconomic level, microeconomic forces are often responsible for this macro aggregate. In other words, the tie between microeconomics and macroeconomics is inevitable when discussing the level of unemployment in an economy. Suppose the following graph represents the market for unskilled labor in a fictional economy. These workers typically represent the young, inexperienced, or uneducated part of the labor force and are therefore most effected by...
3. Let X represent the number that occurs when die A is tossed and Y the number that occurs when die B is tossed. Find the mean and variance of the random variable Z-X +3Y -5. (5pt)
php/2z8250/imod, resouraefoonte C Q Search m oTOmaupierchoicu quesuons CTcomecrarawers worUrNpaine rpo o aa wa Submit your answers by 10:00am on Tuesday, November 5, 2019. Use the link that is posted on Moodle. 1. Which of the following statements is (are) correct? (x) Economists distinguish between short run and long run production by assuming that in the short run, at least one input is fixed and in the long run all inputs are variable. (y) In the long run, fixed inputs...
Let X be a continuous random variable defined on R. Then for any real number x True ● False The staff at a small company includes: 2 secretaries, 12 technicians, 4 engineers, 2 executives, and 64 factory workers If a person is selected at random, what is the probability that he or she is a factory worker? 21 16 21 19 21 7 A 7 digit code number is generated by randomly selecting digits, with replacement, from the set(1.23 the...
a. A company that manufactures flash drives knows that the number of drives x it can sell each week is related to the price p, in dollars, of each drive by the equation x = 900 – 100p. Find the price p that will bring in the maximum revenue. Remember, revenue (R) is the product of price (p) and items sold (x), in other words, R = xp. The price $ will yield the max revenue. b. Find the maximum...
At a certain factory, output Q is related to inputs 2 and y by the equation 21 Q = 572 - 3y +1+ If output is kept constant, find the rate of change of x with respect to time t when I is 9.9, y is 23.7, and y is increasing at the rate of 1.7 units per second. • (-34) Give your answer as a decimal
Just need help with 41!
41: A) What is the rate of change of price with respect to the quantity demanded when q=49? B) Interpret your answer. 37. Revenue The revenue from the sale of a product is R = 1500x + 3000(2x + 3)-1 - 1000 dollars where x is the number of units sold. Find the marginal revenue when 100 units are sold. Interpret your result. 38. Revenue The revenue from the sale of x units of a...
The Kirk Kelly Kandy Company makes two kinds of candy, Kisses and Kreams. The profit, in dollars, for the company is given by PIX,Y) - 10x + 6.47 -0.001x2 -0.025y? where x is the number of pounds of Kisses sold per week and is the number of pounds of Kreams. What is the company's profit if it sells the following amounts? (Round your answers to the neares cent.) (a) 90 pounds of Kisses and 10 pounds of Kreams $ (b)...
Consider an economy that is characterized by the Solow Model. The (aggregate) production function is given by: Y = 6K1/3L2/3 In this economy, workers consume 80% of income and save the rest. The labour force is growing at 2% per year while the annual rate of capital depreciation is 5.5%. a) Solve for the steady state capital-labour ratio and consumption per worker. The economy is in its steady state as described in part (a). Suppose both the stock of capital...