Other Math Answers

. Explaining short-run economic fluctuations

Most economists believe that real economic variables and nominal economic variables behave independently of each other in the long run.

For example, an increase in the money supply, a    variable, will cause the price level, a    variable, to increase but will have no long-run effect on the quantity of goods and services the economy can produce, a    variable. The notion that an increase in the quantity of money will impact the price level but not the output level is known as    .

If the demand fun

tion is

P = Q

2 − 7Q − 8,

where P and Q are the pri

e and quantity respe

tively, determine the point pri

e elasti

ity of demand

(rounded to three de

imal pla

es) if P = 51. Is demand elasti

 or inelasti

 at this pri

e?

[1℄ ed = −0.075; inelasti

[2℄ ed = −0.530; elasti

[3℄ ed = 1.300; elasti

[4℄ ed = −0.255; inelasti

Legess Legacy Company produces machine. The company incurs the following monthly costs to produces the machine.

Fixed costs = RM 350000

Variable costs = RM 4000 per unit

The company produces 200 units per month and the machine sell for RM 8000 per unit.

 a. Determine:

     i. the total cost, total revenue and total profit for the company.

     ii. break even volume for the company.

   b. Determine the new break even volume if the company:

1. reduce the raw material cost by 10%.
2. increase the price of the machine by 5%.

If the error function for 4 experimental points equals to 50.4, then the root mean square (rms) for these points equals to

If the error function for 4 experimental points equals to 50.4, then the root mean square (rms) for these points equals to

1-2 and 1-4