11 7-)Determine the level of homogeniety and returns to scale of the following production functions:Q = x² + 6xy + 7y²Q = x³ xy² + 3y³ + x²y3x²5y²Q-0,9K0,210,68-) The demand for the beef is given as Q=4850-5P+1,5P +0.1Y. IfY= 1000P, 200 and P₂ = 100. Calculate the income elasticity, cross-price elasticity of demand for beef and comment on the findings.

Answered: Image /qna-images/answer/9b88cfef-2f9f-4bf1-8f09-e7d3a77b79a4.jpg

Answered: 7-)Determine the level of homogeniety…

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

See similar textbooks

Similar questions

Suppose that a firm can produce a part it uses for $520 per unit, with a fixed cost of $25,000. The company has been offered a contract from a supplier that allows it to purchase the part at a cost of $544 per unit, which includes transportation. The key outputs in the model are the difference in these costs and the decision that results in the lower cost. Assume that the production volume is uncertain. Suppose the manufacturer has enough data and information to estimate that the production volume will be normally distributed with a mean of 1,000 and a standard deviation of 85. Use a 100-trial Monte Carlo simulation to find the average cost difference and percent of trials that result in manufacturing or outsourcing as the best decision. Please include table showing both the cost difference and decision for each trial. Please include the Excel worksheet with all the details with your answer.
From the data given compute the contribution margin ratio for each of the products T and O. Letter Co. produces and sells two products, T and O. It manufactures these products in separate factories and markets them through different channels. They have no shared costs. This year, the company sold 50,000 units of each product. Sales and costs for each product follow.
10) Use Lagrange multiplier to find the indicated extrema, assuming that x and y are positive.
Assuming an M/M/1 system setup with a service rate of 25 entities per hour and an idling ratioof 4% Define the system’s birth rate. Define at least two ways of arriving at the number of entities in the system. Define the ratio of the time an entity spends waiting and the time the entity spends in thesystem?
From the data given compute the contribution margin per unit for each of the products T and O. Letter Co. produces and sells two products, T and O. It manufactures these products in separate factories and markets them through different channels. They have no shared costs. This year, the company sold 50,000 units of each product. Sales and costs for each product follow.
Suppose that the Lorenz Curve for country A is given by yA = x 2.2 and for country B is yB = 0.3x 2 + 0.7x. Use the Gini index to determine which of the two countries has greater inequality in its income distribution.
A company's cash position (measured in millions of dollars) follows a generalized Wiener process growing onaverage 0.2 m per quarter with volatility of 0.1m per quarter. How high must the initial cash balance be for theprobability of a negative balance after 2.00 years not to exceed 5%?
The 2019-2020 flu season was especially tough. By the end of the season, an estimated total of 49 million people in the United States had contracted the flu, of whom an estimated 79,000 died from the flu. Assume that the US population was 300,000,000 during the 2019-2020 flu season and that during the season, a total of 2.9 million Americans died from all causes (including the flu). Assume the population of the US remained the same at the midpoint of the season. Report mortality rates per 100,000. Be sure to express the measure in the correct format. a.What was the proportionate mortality rate from flu during the 2019-2020 flu season? b.What was the case fatality rate from flue during the 2019-2020 flu season?
The 2019-2020 flu season was especially tough.By the end of the season, an estimated total of 49 million people in the United States had contracted the flu, of whom an estimated 79,000 died from the flu. Assume that the US population was 300,000,000 during the 2019-2020 flu season and that during the season, a total of 2.9 million Americans died from all causes (including the flu). Assume the population of the US remained the same at the midpoint of the season. Report mortality rates per 100,000. Be sure to express the measure in the correct format. c.What was the flu-related mortality rate during the 2019-2020 flu season? d.What is the all-cause mortality rate during the 2019-2020 flu season? e.In a country with an age distribution that is much younger than in the US, the proportionate mortality rate from flu in 2019 was 5%. Based on this information alone, can we determine that the risk of dying from flu in 2019 was higher in this country compared to the US? Why or why not?
In a continuous-time surplus model, the claim severity is distributed as BN(2, 0.4). Determine the Lundberg upper bound for the probability of ultimate ruin if the initial surplus is 2 and the prIn a continuous-time surplus model, the claim severity is distributed as BN(2, 0.4). Determine the Lundberg upper bound for the probability of ultimate ruin if the initial surplus is 2 and the premium loading factor is 0.25.emium loading factor is 0.25.
For a particular process, originally each 200 units of product manufactured yielded 180 conforming units, 9 units that must be scrapped, and the remaining units that must be reprocessed. Each scrapped unit results in a $30 loss and each reprocessed unit requires an extra 0.30 hours of processing time. The resource time of producing the original 200 units is 30 hours. As a result of a quality improvement program that was recently introduced, for each 200 units manufactured, the process now yields 190 conforming units, 1 unit to be scrapped, and the remaining units that must be reprocessed. Calculate the scrap cost for the new process.
The cashier line of a canteen can facilitate up to 60 customers an hour. Frequenters of thecanteen arrive at an average of 50 an hour. Suppose that management wants toevaluate the desirability of opening a second order-processing station so that twocustomers can be served simultaneously. Assume a single waiting line with the firstcustomer in line moving to the first available server.a. What is the average arrival time in minutes of customers?b. What is the average service time in minutes of the canteen?c. What is the probability that the canteen has a customer?d. What is the probability that the canteen does not have any customer?e. How long would the line be on average (average number of customers in thesystem)?f. How many people are waiting to be served on average?g. How long in minutes would it take the customer from lining up until he leaves thewaiting line?h. How long in minutes would a customer wait to be served on average?i. Find the probability that there are 7 customers in the…

SEE MORE QUESTIONS

Recommended textbooks for you

Advanced Engineering Mathematics

Advanced Math

ISBN:

9780470458365

Author:

Erwin Kreyszig

Publisher:

Wiley, John & Sons, Incorporated

Numerical Methods for Engineers

Advanced Math

ISBN:

9780073397924

Author:

Steven C. Chapra Dr., Raymond P. Canale

Publisher:

McGraw-Hill Education

Introductory Mathematics for Engineering Applicat…

Advanced Math

ISBN:

9781118141809

Author:

Nathan Klingbeil

Publisher:

WILEY

Advanced Engineering Mathematics

Advanced Math

ISBN:

9780470458365

Author:

Erwin Kreyszig

Publisher:

Wiley, John & Sons, Incorporated

Numerical Methods for Engineers

Advanced Math

ISBN:

9780073397924

Author:

Steven C. Chapra Dr., Raymond P. Canale

Publisher:

McGraw-Hill Education

Introductory Mathematics for Engineering Applicat…

Advanced Math

ISBN:

9781118141809

Author:

Nathan Klingbeil

Publisher:

WILEY

Mathematics For Machine Technology

Advanced Math

ISBN:

9781337798310

Author:

Peterson, John.

Publisher:

Cengage Learning,

Basic Technical Mathematics

Advanced Math

ISBN:

9780134437705

Author:

Washington

Publisher:

PEARSON

Topology

Advanced Math

ISBN:

9780134689517

Author:

Munkres, James R.

Publisher:

Pearson,

SEE MORE TEXTBOOKS