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- Minimize the current function Cost=4,32(pe +pp)+2,46(we +wp)+1,86(se +sp) Subjetct to pe +we + se = 350∗0,05pp +wp + sp = 500∗0,05pe ≥ 0,4(pe +we + se )pp ≥ 0,6(pp +wp + sp )se ≤ 0,25(pe +we + se )sp ≤ 0,25(pp +wp + sp )pe + pp ≤ 30we +wp ≤ 20se + sp ≤ 17pe + pp ≥ 23The table time (xi) 1 2 3 4 5 6infections (yi = f(xi)) 32 37 34 48 53 69 depicts the number of newly infected individuals with a contagious, airborne disease atintervals of 1 day over a period of 6 days. Here i = 0, 1, 2, . . . , 5 and the quantities x0 = 1and y0 = 32, respectively, represent the end of the first day of testing for the disease, andnumber of positive tests conducted by the end of that day. (Note: xi represents the end of a testing day, where the values of xi are as tabulated, whileyi represents the number of positive tests conducted by the end of day xi.) (a) Construct a forward difference table for the above dataa) If the consumption function isC = 50 + 2√Ycalculate MPC and MPS when Y = 36 and give an interpretation of these results. b) A firm’s average cost function takes the formAC = 4Q + a +6Qand it is known that MC = 35 when Q = 3. Find the value of AC when Q = 6.
- Answer the following questions: 4.1) Interpret the coefficient value of the TV variable in the model. 4.2) Predict the literacy rate for a country that has 200 daily newspaper copies (per 1000 in the population), 800 radios (per 1000 in the population), and 250 TV sets (per 1000 in the population). Show a detailed solution to support your answer.2 Suppose that you have the following parameter estimates of a healthcare demand model: lnQd = 2.34 – 0.51lnP + 0.88lnY – 0.34G | (p-values = 0.000) where:- Q d = number of visits to health facilities per week; P = the user fee (dollars per visit); Y= household income in dollars; G = 1 if service user is a female and zero otherwis (i) Interpret the estimated coefficients, including the constant ter (ii) Comment on the claim that healthcare is a luxury good and that user fees have no effect on healthcare utilizatio n.m.e.ation.11.2 The Audubon Society at Enormous State University (ESU) is planning its annual fund-raising "Eatathon." The society will charge students $1.10 per serving of pasta. The society estimates that the total cost of producing x servings of pasta at the event will be C(x) = 310 + 0.10x + 0.002x2 dollars. (a) Calculate the marginal revenue R'(x) and profit P'(x) functions. R'(x) = P'(x) = (b) Compute the revenue and profit, and also the marginal revenue and profit, if you have produced and sold 200 servings of pasta (in $). revenue$ profit$ marginal revenue$ per additional platemarginal profit$ per additional plate Interpret the results. The approximate from the sale of the 201st plate of pasta is $ . (c) For which value of x is the marginal profit zero? x = plates Interpret your answer. The graph of the profit function is a parabola with a vertex at x = , so the loss is at a minimum when you produce and sell plates.
- It is observed that a certain bacteria culture has a relative growth rate of 15% per hour, but in the presence of an antibiotic the relative growth rate is reduced to 9% per hour. The initial number of bacteria in the culture is 24. Find the projected population after 24 hours for the following conditions. (Round your answers to the nearest whole number.) (a) No antibiotic is present, so the relative growth rate is 15%. bacteria(b) An antibiotic is present in the culture, so the relative growth rate is reduced to 9%.It is observed that a certain bacteria culture has a relative growth rate of 16% per hour, but in the presence of an antibiotic the relative growth rate is reduced to 8% per hour. The initial number of bacteria in the culture is 22. Find the projected population after 24 hours for the following conditions. (Round your answers to the nearest whole number.) (a) No antibiotic is present, so the relative growth rate is 16%. bacteria(b) An antibiotic is present in the culture, so the relative growth rate is reduced to 8%. bacteria