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5. True or False? WRITE the whole word so I don’t have to guess what you meant! No math or explanation necessary, but no partial credit either! a. The consumer's surplus involves integrating under the SUPPLY curve. b. REVENUE (at equilibrium) can be defined as the equilibrium price multiplied by the corresponding equilibrium production levels, in economics. c. You can find the point of diminishing returns by setting the first derivative equal to zero and solving for x. d. You can find the average cost per unit by taking the integral of the marginal cost, using a given nugget to solve for Kc, and then dividing the complete Cost function by x to get Average Cost. e. You can set Marginal Revenue equal to Marginal Cost to find the production level at which maximum profit is found.

5. True or False? WRITE the whole word so I don’t have to guess what you meant! No math or explanation necessary, but no partial credit either! a. The consumer's surplus involves integrating under the SUPPLY curve. b. REVENUE (at equilibrium) can be defined as the equilibrium price multiplied by the corresponding equilibrium production levels, in economics. c. You can find the point of diminishing returns by setting the first derivative equal to zero and solving for x. d. You can find the average cost per unit by taking the integral of the marginal cost, using a given nugget to solve for Kc, and then dividing the complete Cost function by x to get Average Cost. e. You can set Marginal Revenue equal to Marginal Cost to find the production level at which maximum profit is found.

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Need help and want to know steps, plus which of the tattoo formulas i have to use if needed
* TATTOO"CHEAT SHEET - USE OFTEN! youR THE BASICS derv. PX) MP CO) MC RX) MR X→ fcx)+y (ly CAN BE +,Ø,-) X f'x) SLOPE(SLOPE CAN BE +,Ø, integ. - {0 = MAx OR MIN OR H.P.I.3) X *f"(x) + CONCAVITY (CONCAVITY IS ,A,Ø { Bis POINT OF INFLECTION}) DERIVATIVES PRODUCTS AND QUOTIENTS u isA FUNCTION, X IS VAR., y=x^ y'= nxn-i youv y'- u'v+uv U AND V %3D n-I y'= nu" (u') y= e" y'- u'e" y=Lnu y'= 4 doutdin y=u^ ARE FUNCTIONS e AND n y= u y'= u'v -uv' CONSTANTS LOGS AND EXPONENTS y=a" y'=a"u'ina ) WHERE U y=a" g=a*x' ina fais coNst, Fa*(1) ina INTEGRALS IS A FUNC, ntl x^dx +K, n+-1 X IS VARVABLE ntl dx → U +k, n+-1 Un(e*) =x (SIMPLIFIED, NOT DERIVATI VE ) =X (SIMPUFIED, NOT DERIVATIVE) y= Ju'e"dr → e“ + k in(MN) = Ln M + inN WHERE M » In u tk n=- in () - LnM -UnN in (M) = PlnM y= logax ay=x EN ARE STEPS FUNCTIONS. (CONVERSIONS NOT DERIVATIVES 1) MAKE IT PRETTY. WHICH INTEGRAL? 2) FIND U; CREATE U' 3) WE HAVE 4) MAKE IT LOOK LIKE TEMPLATE 5) PERFORM INTEGRAL WE WANT. CHANGE OF BASE: y= loga x loga DEFINITE INTEGRALS log X In X %3D ALSO Una y=Jax^dx = afx°dx Scan" y= J(ax^+bx") dx SFondh Fo = Fb) - Fla) Jfondk=FCx) %3D %3D a
Transcribed Image Text:* TATTOO"CHEAT SHEET - USE OFTEN! youR THE BASICS derv. PX) MP CO) MC RX) MR X→ fcx)+y (ly CAN BE +,Ø,-) X f'x) SLOPE(SLOPE CAN BE +,Ø, integ. - {0 = MAx OR MIN OR H.P.I.3) X *f"(x) + CONCAVITY (CONCAVITY IS ,A,Ø { Bis POINT OF INFLECTION}) DERIVATIVES PRODUCTS AND QUOTIENTS u isA FUNCTION, X IS VAR., y=x^ y'= nxn-i youv y'- u'v+uv U AND V %3D n-I y'= nu" (u') y= e" y'- u'e" y=Lnu y'= 4 doutdin y=u^ ARE FUNCTIONS e AND n y= u y'= u'v -uv' CONSTANTS LOGS AND EXPONENTS y=a" y'=a"u'ina ) WHERE U y=a" g=a*x' ina fais coNst, Fa*(1) ina INTEGRALS IS A FUNC, ntl x^dx +K, n+-1 X IS VARVABLE ntl dx → U +k, n+-1 Un(e*) =x (SIMPLIFIED, NOT DERIVATI VE ) =X (SIMPUFIED, NOT DERIVATIVE) y= Ju'e"dr → e“ + k in(MN) = Ln M + inN WHERE M » In u tk n=- in () - LnM -UnN in (M) = PlnM y= logax ay=x EN ARE STEPS FUNCTIONS. (CONVERSIONS NOT DERIVATIVES 1) MAKE IT PRETTY. WHICH INTEGRAL? 2) FIND U; CREATE U' 3) WE HAVE 4) MAKE IT LOOK LIKE TEMPLATE 5) PERFORM INTEGRAL WE WANT. CHANGE OF BASE: y= loga x loga DEFINITE INTEGRALS log X In X %3D ALSO Una y=Jax^dx = afx°dx Scan" y= J(ax^+bx") dx SFondh Fo = Fb) - Fla) Jfondk=FCx) %3D %3D a
5. True or False? WRITE the whole word so I don't have to guess what you meant! No math or explanation necessary, but no partial credit either! a. The consumer's surplus involves integrating under the SUPPLY curve. b. REVENUE (at equilibrium) can be defined as the equilibrium price multiplied by the corresponding equilibrium production levels, in economics. c. You can find the point of diminishing returns by setting the first derivative equal to zero and solving for x. d. You can find the average cost per unit by taking the integral of the marginal cost, using a given nugget to solve for Kc, and then dividing the complete Cost function by x to get Average Cost. e. You can set Marginal Revenue equal to Marginal Cost to find the production level at which maximum profit is found.
Transcribed Image Text:5. True or False? WRITE the whole word so I don't have to guess what you meant! No math or explanation necessary, but no partial credit either! a. The consumer's surplus involves integrating under the SUPPLY curve. b. REVENUE (at equilibrium) can be defined as the equilibrium price multiplied by the corresponding equilibrium production levels, in economics. c. You can find the point of diminishing returns by setting the first derivative equal to zero and solving for x. d. You can find the average cost per unit by taking the integral of the marginal cost, using a given nugget to solve for Kc, and then dividing the complete Cost function by x to get Average Cost. e. You can set Marginal Revenue equal to Marginal Cost to find the production level at which maximum profit is found.
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