1. The demand equation for a monopolist's product is p = 200 -0.98q, where p is the price per unit (in dollars) of producing q units. If the total cost c (in dollars) of producing q units is given by C = 0.02q² + 2q + 8000. Find the level of production at which profit is maximized. S = 1+√1-6 √I+3 2. Suppose that the saving function of a country is given by: where the national income (1) and the national saving (S) are measured in billions of dollars. Determine the country's marginal propensities to consume and its marginal propensities to save when the national income is $121 billions.
1. The demand equation for a monopolist's product is p = 200 -0.98q, where p is the price per unit (in dollars) of producing q units. If the total cost c (in dollars) of producing q units is given by C = 0.02q² + 2q + 8000. Find the level of production at which profit is maximized. S = 1+√1-6 √I+3 2. Suppose that the saving function of a country is given by: where the national income (1) and the national saving (S) are measured in billions of dollars. Determine the country's marginal propensities to consume and its marginal propensities to save when the national income is $121 billions.
Algebra and Trigonometry (6th Edition)
6th Edition
ISBN:9780134463216
Author:Robert F. Blitzer
Publisher:Robert F. Blitzer
ChapterP: Prerequisites: Fundamental Concepts Of Algebra
Section: Chapter Questions
Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...
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