Project #1: Parts I, II & III: The demand function for a product is p = 30 – 0.3q and the average cost function is č = 0.2q + 5 + 40 where p= price, and q=quantity demand. Part IV: f(x,y) = 3x + 4y g(x, y) = x² + y² = 100 Part III In this part, we assume that the supply function is given by, p = 8+q 10. Find the price and the quantity at the equilibrium. Calculate the consumer surplus. 11. 12. Calculate the producer surplus.
Project #1: Parts I, II & III: The demand function for a product is p = 30 – 0.3q and the average cost function is č = 0.2q + 5 + 40 where p= price, and q=quantity demand. Part IV: f(x,y) = 3x + 4y g(x, y) = x² + y² = 100 Part III In this part, we assume that the supply function is given by, p = 8+q 10. Find the price and the quantity at the equilibrium. Calculate the consumer surplus. 11. 12. Calculate the producer surplus.
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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Transcribed Image Text:Project #1:
Parts I, II & III: The demand function for a product is p = 30 – 0.3q and the average cost function
is č = 0.2q + 5+
where p= price, and q=quantity demand.
Part IV:
f(x, y) = 3x + 4y
g(x, y) = x? + y² = 100
Part III
In this part, we assume that the supply function is given by, p = 8+q
Find the price and the quantity at the equilibrium.
Calculate the consumer surplus.
Calculate the producer surplus.
10.
11.
12.
Part IV
If the function f(x,y) = is subject to the constrain g(x, y) = ...
a) Use Lagrangian multipliers method to find the critical points of the function f(x, y).
b) Plot the function in the 3-D graph in MATLAB.
You can download the trial version of Matlab using the following link:
https://uk.mathworks.com/campaigns/products/trials.html?prodcode=DML
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