Numerical Methods For Engineers, 7 Ed
Numerical Methods For Engineers, 7 Ed
7th Edition
ISBN: 9789352602131
Author: Canale Chapra
Publisher: MCGRAW-HILL HIGHER EDUCATION
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Chapter 5, Problem 25P

Develop a user-friendly subprogram for the modified false-position method based on Fig. 5.15. Test the program by determining the root of the function described in Example 5.6. Perform a number of runs until the true percent recent relative error falls below 0.01%. Plot the true and approximate percent relative errors versus number of iterations on semilog paper. Interpret your results.

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Goods A, B, and C are related goods, each operating in a perfectly competitive market. a. As the price of Good A increases from $8 to $10, its quantity demanded falls from 200 units to 160 units. Calculate the price elasticity of demand for this range. b. Good A is an input for Good B. Illustrate the effect of the price change from part (a) on a fully labeled supply and demand graph for Good B. Label the equilibrium price(s) and quantity or quantities. Use arrows to indicate any shifts. c. On your graph from (b), shade the consumer surplus lost in the market for Good B as a result of the change in part (a). d. The equilibrium price for Good C is $2, and the equilibrium quantity is 60 units. The cross-price elasticity of Good C with Good A is -3. i. Are Good C and Good A normal goods, inferior goods, complementary goods, or substitute goods? ii. Calculate the new equilibrium quantity of Good C after a 25% price increase for Good A.
Price (S) The graph below depicts a firm with market power. In the graph, MC represents the firm's marginal costs, ATC represents the average total costs, D represents demand, and MR represents marginal revenue. 110 70 60 50 40 30 20 MC ATC D 0 40 50 70 80 95 Quantity/Units MR a. At 60 units of output, how much would this profit-maximizing monopolist charge? b. How many units would it produce to maximize total revenue rather than total profit? c. What is the maximum quantity this firm can produce without incurring economic losses? d. Calculate the firm's profit at the profit-maximizing output and price. e. Why is this firm's marginal revenue curve below its demand curve? Explain.
Shade the areas given

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Numerical Methods For Engineers, 7 Ed

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