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- Please help solve and explain this equationCommon Property and Public Goods Problem To water their vine yards, a group of farmers in Cyprus drill identical wells and draw irrigation water from an underground aquifer. This aquifer has a natural maximum recharge rate of 340,000 liters per day (in others words, a maximum of 340,000 liters of water per day filter into this underground reservoir from natural sources). The table below shows the relationship between the daily total water output (total product) and the number of wells operating. Number of Wells Operating Total Water Output (in 1000s of Liters/Day) Total Revenue (TR) Total Cost (TC) Average Revenue (A VR) Profit 0 0 0 0 0 0 10 100 20 200 30 280 40 340 50 380 60 400 70 400 80 380 90 340 (a) The cost of operating a well is €60/day and the value of water to each farmer is €0.1/liter. Using this information and the…Provide an evaluation of the size of the explanatory variables’ coefficients and their statistical significancein Table 5.
- Solve the following LPP Max Z = 8 X1 + 10 X2 + 12 X3 X1 + X2> = 22 X1 - X2 = N - 24 X2, Where N is your Number=80 X1, X2, X3> = 0 If the question can be solved by using the graphical method if it can be solved by graphical method find the value of the variables with the objective function. And if it is not possible, explain the reason and suggest a method of solution. Write below your final results or the conclusions you reachStarting with the algebraic and graphical results of Problems 5 and 6, determine algebraically and determine graphically the effect on YE of an autonomous: (a) Increase in X of 200. (b) Increase in I of 200. (c) Increase in X and I of 200. Problem 5 Given C = 100 + 0.8Y, M = 150 + 0.20Y, I = 100, and X = 350: (a) Determine YE algebraically. (b) Show the determination of YE graphically as in the top panel of Figure 17.3. Problem 6 For the same given as in Problem 5, show the determination of YE graphically as in the bottom panel of Figure 17.3.The following equation
- Q: Determine whether the following statemnts are true or false: a) If the firm increases the volume of used resources by 30%, and the volume of production thus increases by 20%, then there is a positive effect of the production scale. b) Average fixed costs decrease as production increases. c) The economic profit usually exceeds the accounting profit.Graph the function C=50+0.8Y and give economic interpretations of the elements of the equation.Please explain steps to formulate the equation in (i)
- 36- What is the slope of a nonlinear function at its minimum point? a) 3 B) 4 NS) one D) 0 TO) 2nd4- The manager of Collins Import Autos believes the number of cars sold in a day(Q) depends on two factors: (1) the number of hours the dealership is open (H) and (2) the number of salespersons working that day (S ). After collecting data for two months (53 days), the manager estimates the following log-linear model: Q = aHbSc ----- a. Explain how to transform this log-linear model into a linear form that can be estimated using multiple regression analysis. b. How do you interpret coefficients b and c? If the dealership increases the number of salespersons by 20 percent, what will be the percentage increase in daily sales? c. Test the overall model for statistical significance at the 5 percent significance level.It is known that the ABC oil company supplies consumers with 150 tons of products per day. The company produces only two types of products - gasoline and diesel fuel. The limiting transformation ratio of diesel fuel relative to gasoline is 0.5. a) Draw a line of the company's monthly production capacity for gasoline and diesel. b) With the advent of new technologies, production increased by 20%, and the availability of gasoline increased by 30%. Explain how the company's new product line differs from the previous one. c) If we put the gasoline production on the X-axis of the graph, what percentage of the slope capacity of the production line is different from the slope ratio of the previous production line?
