Microeconomics Answers

A company produces two goods X and Y. The profit function of the company is given as follows:

P = I00X- 2X2 - XY + 180Y – 4Y2

The company is under obligation to produce a minimum combined output of 30 units. Find the output of X and Y subject to a total of 30 units that maximize total profit by using Lagrangian multiplier methods.

Suppose a firm has its TR and TC functions estimated as follows:

TR = 300Q-3Q2

TC = 500 + 50Q + 2Q2

Find (a) profit function of the firm, (b) the quantity of output (Q) that maximizes the firm's profit.

A manufacturer in a monopolistically competitive industry produces two different brands of a product for which the demand functions are P1=56-4Q1 and P2=48-2Q2. and the joint cost function is

TC=Q12+5Q1Q2+Q22. Find the profit maximizing level of output and the price that should be charged for each brand.

A firm faces a demand law q = 50-4p where q and p are the quantity and prices of the good respectively. Find out the price at which total revenue is maximized.

Find the relative maximum / minimum / points of inflection of the following functions:

y=x3+6x2+7

y=2x(1−2x)

y=ln(2x−5)−lnx

y= 13 x3 −15x2 +300x+150

Assume the price of labor is rm5 and the price of capital is rm10 per unit, what is the total variable cost

micro economic in relation to the construction industry.

2500

This question is designed to explain how feedback is given for a certain type of question in which words, equations, numbers, or images need to be sorted into categories. Bob skipped breakfast but had lunch and dinner. By trial and error, figure out what Bob ate for each meal.

The answer bank is: Crackers, cookie, carrots, soup, sandwich, and cheese.

Given a monopoly graph: If P = 10 - 2Q

1/ Find MR

2/ Identify the break even price

3/ Identify the Profit Maximizing Price and Quantity  

4/ Identify & shade the area of the deadweight loss that is consumer surplus