EBK MINDTAP ECONOMICS FOR BOYES/MELVIN'
10th Edition
ISBN: 9781305387614
Author: MELVIN
Publisher: VST
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Chapter 9, Problem 12E
To determine
To write:
The reason behind economies with older population having consumption function with greater slope.
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subject to X1
X2
Maximize dollars of interest earned = 0.07X1+0.11X2+0.19X3+0.15X4
≤ 1,000,000
<2,500,000
X3
≤ 1,500,000
X4
≤ 1,800,000
X3 +
XA
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0.55 (X1+X2+X3+X4)
X1
≥
0.15 (X1+X2+X3+X4)
X1
+ X2 X3 +
XA
<
5,000,000
X1, X2, X3, X4 ≥
0
not use ai
Chapter 9 Solutions
EBK MINDTAP ECONOMICS FOR BOYES/MELVIN'
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