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4 Suppose that f(x, y) = x* + y* – xy Then the minimum is 0

4 Suppose that f(x, y) = x* + y* – xy Then the minimum is 0

Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Suppose that f(x, y) = x* + y* – xy Then the minimum is 0
Transcribed Image Text:Suppose that f(x, y) = x* + y* – xy Then the minimum is 0
Given: (x is number of items) Demand function: d(x) = 200 – 0.6x Supply function: s(x) - 0.2x Find the equilibrium quantity: 250 Find the consumers surplus at the equilibrium quantity: 250
Transcribed Image Text:Given: (x is number of items) Demand function: d(x) = 200 – 0.6x Supply function: s(x) - 0.2x Find the equilibrium quantity: 250 Find the consumers surplus at the equilibrium quantity: 250
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