Problem Set B1. Write a demand and a supply curve expressed in the form of an exponential andlogarithmic functions respectively. Demonstrate graphically or otherwise, that thefunctions reflect all the characteristics of a demand and supply curve.2. a. Solve the linear inequality: 2(5-x) ≤3(5-x) - 7x.b. Hence or otherwise, represent your solution set on a number line.3. Solve the system of linear inequalities:4x + 2y ≥ 8y - 4 > x4. Windies Cricket manufactures Windies supporter jerseys. The quantity q, of thesejerseys demanded weekly is related to the wholesale price per jersey p, by thefollowing equation:p = -0.006q+15The weekly total cost incurred by Windies Cricket for producing q jerseys is:C(q) = 38q0.02q² + 30,000a. Determine an expression to represent the weekly Revenue function.b. Determine an expression to represent the weekly Profit function.c. Calculate the weekly Revenue when ten dozen jerseys are produced and sold.|d. Will Windies Cricket record a loss or profit if they were to produce and sell 2450jerseys?e. If Windies Cricket wishes to maintain a total cost less than $42,000.00, whatrange(s) of Windies jerseys should be produced.f. Calculate the equilibrium price and quantity for Windies jerseys.3 Problem Set A1. Expand the following expressions:a. TC(q)- 2TR(q) - FC(q)b. 5q-(3-2q)³C.2e21 - In (²²) ²2. Factorize the following expression:a. 4 + 4(2) + 4b. 108q-36+7q³ - 59q²3.a. Use Microsoft Excel or otherwise to draw the graph for each of the followingfunctions to scale, on the same page for -5

1. Write a demand and a supply curve expressed in the form of an exponential logarithmic functions respectively. Demonstrate graphically or otherwise, th functions reflect all the characteristics of a demand and supply curve. 2. a. Solve the linear inequality: 2(5-x) ≤ 3(5-x) - 7x. b. Hence or otherwise, represent your solution set on a number line. 3. Solve the system of linear inequalities: 4x + 2y ≥ 8 y - 4 > x

1. Write a demand and a supply curve expressed in the form of an exponential logarithmic functions respectively. Demonstrate graphically or otherwise, th functions reflect all the characteristics of a demand and supply curve. 2. a. Solve the linear inequality: 2(5-x) ≤ 3(5-x) - 7x. b. Hence or otherwise, represent your solution set on a number line. 3. Solve the system of linear inequalities: 4x + 2y ≥ 8 y - 4 > x

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter2: Mathematics For Microeconomics

Section: Chapter Questions

Problem 2.6P

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Q7: Please show exact detailed steps for each problem
Please give me correct answer with calculation and full explanation and drawing carefully otherwise i give multiple downvote
A firm believes a product’s sales volume (S) depends on its unit selling price (P) as S = $100 − P. The production cost (C) is $1000 + 10S. (a) Graph the sales volume (S) from 0 to 100 on the x axis, total cost and total income from $0 to $2500 on the y axis, C = $1000 + 10S, and plot the curve of total income. Mark the breakeven points on the graph. (b) Determine the breakeven point (lowest sales volume at which total sales income just equals total production cost). (c) Determine the sales volume (S) at which the firm’s profit is a maximum.
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I’m unsure what the formula in this example problem is asking for, in terms of how to answer a-c. Im also not positive I understand how to graph I-C and P-C curves is there a formula to follow?
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Please answer this question with detail explanation asap. Thank you so much!!
MNLogs harvested logs (with no inputs from other companies) from their property in northern Minnesota. They sold these logs to MNLumber for $1,000 and MNLumber cut and planed the logs into lumber. MNLumber then sold the lumber for $2,500to MNFurniture. MNFurniture used the lumber to produce 100 tables that they sold to customers for $60 each.Instructions: Enter your responses as whole numbers.a. Complete the table below to calculate the value added by each firm. Company Revenues Cost of purchased inputs Value added MNLogs $ $ $ MNLumber $ $ $ MNFurniture $ $ $ b.Suppose that all of these transactions took place in 2016. By how much did GDP increase because of these transactions?$ c.Suppose that MNLogs harvested the logs in October 2016 and sold them to MNLumber in December 2016. MNLumber then sold the finished lumber to MNFurniture in April 2017 and MNFurniture sold all 100 tables during the rest of 2017. By how much did GDP increase in 2016 and 2017 because of…
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pls solve this ques with explanation in 20 minutes i'll give you multiple upvotes