(a) The sign of the derivatives ∂ q 1 ∂ x and ∂ q 2 ∂ y if x is the price of one brand of gasoline and the surrogate of this brand is sold for y price. Then, the quantity of the first brand that is sold in a fixed time period is q 1 and it is dependent to both the prices x and y as q 1 = f ( x , y ) similarly the quantity of the second brand is given by q 2 = g ( x , y ) .

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Answer 1

Question

Chapter 8.3, Problem 23P

To determine

(a)

The sign of the derivatives ∂q1∂x and ∂q2∂y if x is the price of one brand of gasoline and the surrogate of this brand is sold for y price. Then, the quantity of the first brand that is sold in a fixed time period is q1 and it is dependent to both the prices x and y as q1=f(x,y) similarly the quantity of the second brand is given by q2=g(x,y).

To determine

(b)

The sign of the derivatives ∂q1∂y and ∂q2∂x if x is the price of one brand of gasoline and the surrogate of this brand is sold for y price. Then, the quantity of the first brand that is sold in a fixed time period is q1 and it is dependent to both the prices x and y as q1=f(x,y) similarly the quantity of the second brand is given by q2=g(x,y).

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Answer 2

Question

Chapter 8.3, Problem 23P

To determine

(a)

The sign of the derivatives ∂q1∂x and ∂q2∂y if x is the price of one brand of gasoline and the surrogate of this brand is sold for y price. Then, the quantity of the first brand that is sold in a fixed time period is q1 and it is dependent to both the prices x and y as q1=f(x,y) similarly the quantity of the second brand is given by q2=g(x,y).

To determine

(b)

The sign of the derivatives ∂q1∂y and ∂q2∂x if x is the price of one brand of gasoline and the surrogate of this brand is sold for y price. Then, the quantity of the first brand that is sold in a fixed time period is q1 and it is dependent to both the prices x and y as q1=f(x,y) similarly the quantity of the second brand is given by q2=g(x,y).

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Answer 3

Question

Chapter 8.3, Problem 23P

To determine

(a)

The sign of the derivatives ∂q1∂x and ∂q2∂y if x is the price of one brand of gasoline and the surrogate of this brand is sold for y price. Then, the quantity of the first brand that is sold in a fixed time period is q1 and it is dependent to both the prices x and y as q1=f(x,y) similarly the quantity of the second brand is given by q2=g(x,y).

To determine

(b)

The sign of the derivatives ∂q1∂y and ∂q2∂x if x is the price of one brand of gasoline and the surrogate of this brand is sold for y price. Then, the quantity of the first brand that is sold in a fixed time period is q1 and it is dependent to both the prices x and y as q1=f(x,y) similarly the quantity of the second brand is given by q2=g(x,y).

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Answer 4

Question

Chapter 8.3, Problem 23P

To determine

(a)

The sign of the derivatives ∂q1∂x and ∂q2∂y if x is the price of one brand of gasoline and the surrogate of this brand is sold for y price. Then, the quantity of the first brand that is sold in a fixed time period is q1 and it is dependent to both the prices x and y as q1=f(x,y) similarly the quantity of the second brand is given by q2=g(x,y).

To determine

(b)

The sign of the derivatives ∂q1∂y and ∂q2∂x if x is the price of one brand of gasoline and the surrogate of this brand is sold for y price. Then, the quantity of the first brand that is sold in a fixed time period is q1 and it is dependent to both the prices x and y as q1=f(x,y) similarly the quantity of the second brand is given by q2=g(x,y).

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Answer 5

Chapter 8.3, Problem 23P

To determine

(a)

The sign of the derivatives ∂q1∂x and ∂q2∂y if x is the price of one brand of gasoline and the surrogate of this brand is sold for y price. Then, the quantity of the first brand that is sold in a fixed time period is q1 and it is dependent to both the prices x and y as q1=f(x,y) similarly the quantity of the second brand is given by q2=g(x,y).

To determine

(b)

The sign of the derivatives ∂q1∂y and ∂q2∂x if x is the price of one brand of gasoline and the surrogate of this brand is sold for y price. Then, the quantity of the first brand that is sold in a fixed time period is q1 and it is dependent to both the prices x and y as q1=f(x,y) similarly the quantity of the second brand is given by q2=g(x,y).

Answer 6

Chapter 8.3, Problem 23P

To determine

(a)

The sign of the derivatives ∂q1∂x and ∂q2∂y if x is the price of one brand of gasoline and the surrogate of this brand is sold for y price. Then, the quantity of the first brand that is sold in a fixed time period is q1 and it is dependent to both the prices x and y as q1=f(x,y) similarly the quantity of the second brand is given by q2=g(x,y).

Answer 7

Chapter 8.3, Problem 23P

To determine

(a)

The sign of the derivatives ∂q1∂x and ∂q2∂y if x is the price of one brand of gasoline and the surrogate of this brand is sold for y price. Then, the quantity of the first brand that is sold in a fixed time period is q1 and it is dependent to both the prices x and y as q1=f(x,y) similarly the quantity of the second brand is given by q2=g(x,y).

Answer 8

To determine

(b)

The sign of the derivatives ∂q1∂y and ∂q2∂x if x is the price of one brand of gasoline and the surrogate of this brand is sold for y price. Then, the quantity of the first brand that is sold in a fixed time period is q1 and it is dependent to both the prices x and y as q1=f(x,y) similarly the quantity of the second brand is given by q2=g(x,y).

Answer 9

To determine

(b)

The sign of the derivatives ∂q1∂y and ∂q2∂x if x is the price of one brand of gasoline and the surrogate of this brand is sold for y price. Then, the quantity of the first brand that is sold in a fixed time period is q1 and it is dependent to both the prices x and y as q1=f(x,y) similarly the quantity of the second brand is given by q2=g(x,y).

Answer 10

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Answer 11

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Answer 12

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Answer 13

Ch. 8.1 - Prob. 1P Ch. 8.1 - Prob. 2P Ch. 8.1 - Prob. 3P Ch. 8.1 - Prob. 4P Ch. 8.1 - Prob. 5P Ch. 8.1 - Prob. 6P Ch. 8.1 - Prob. 7P Ch. 8.1 - Prob. 8P Ch. 8.1 - Prob. 9P Ch. 8.1 - Prob. 10P

Solution Summary: The author explains that the sign of the derivatives partial, q_1 and y is negative if x is the price of one brand of gasoline and the surrogate of this

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