Consider the function Y5X03203, where X and Z are both greater than or equal to zero.Complete the following table by calculating the value of Y for each set of values for X and Z.X161818201614N 106Use the blue curve (circle symbols) to graph the values from the previous table that correspond to the contour line when Y=20. Use the green curve(triangle symbols) to graph the values from the previous table that correspond to the contour line when ya 30. Finally, use the purple curve(diamond symbols) to graph the values from the previous table that correspond to the contour line when y=40.542z166D41116818Y0010X121410 1020Contour Line Y 20NContour Line Y 30BContour Line Y 40

X Z Y 4 16 320 6 6 180 16 4 320 16 1 80 18 1 90 4 4 20 1 16 80 8 8 320 2 18 180…

Answered: Consider the function Y=5X0520s, where…

Macroeconomics: Principles and Policy (MindTap Course List)

13th Edition

ISBN:9781305280601

Author:William J. Baumol, Alan S. Blinder

Publisher:William J. Baumol, Alan S. Blinder

Chapter1: What Is Economics

Section1.A: Using Graphs: A Review

Problem 1TY

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Suppose that in the country of Sudland, when the yearly rate of economic growth fell from 3.0% to 1.5%, the yearly rate of increase in airborne pollutants fell from 6% to 5%. What is the average slope of a nonlinear curve between these points using the arc method? The average slope is
Consider the function Y = *square root*pXZ where X > 0 and Z > 0. Draw the contour lines (in the positive quadrant) for this function for Y = 4, Y = 5, and Y = 10. What do we call the shape of these contour lines? Where does the line 20X + 10Z = 200 intersect with the contour lineY = 50?
Marketing surveys conducted by the sales manager for a company determined that 3,000 power drills could be sold for $60 each, but 4,000 drills could be sold for $50 each. (a) If the two data points were plotted on a coordinate system with the number of drills sold on the horizontal axis and the price of each drill on the vertical axis, what is the slope of the line between the two points? (b) Write a sentence that explains the result in part (a) in the context of this problem. For every additional drill sold, the price per drill (in cents) decreases by cent(s). (c) Assuming the trend in part (a) continues, how many drills can be sold for $56? drills
The variable shown on the vertical axis is _________ . The units for the variable on the horizontal axis are __________ . There are two ways to view the information presented on the graph. First, the graph tells us the amount a person with a certain income is likely to spend on a car, and second, it tells us the probable income of a person who spent a certain amount on a car. For example, if an individual earned $40,000 last year and purchased a new car, you would expect that person to have paid about _________ for the car. Similarly, if someone just paid $25,000 for a car, you could use this graph to estimate that this person's income was probably around __________ .
5. Suppose a quadratic function is given by y = f(x) = x29x + 8. (a) Does this function represent an upward or downward facing parabola? Explain. Find the x - coordinate of the vertex (or the equation of the vertical line that intersects the parabola at the vertex) of the parabola.(b) Find the roots of the quadratic function. 1 (c) Using information from (a) and (b) draw a well labelled graph of the parabola (in particular, label the vertex and the roots).(d) In the same graph as (c), draw the parabola if it was instead represented by the function f(x) = x2-9x + 21. How many roots does this parabola have?6. Suppose an inverse demand function is given by p =10 - qd and an inverse supply function is given by p = 4+ 2qs. (a) What is the equilibrium price and quantity combination? (b) What happens when the price is above or below the equilibrium price? 7. How many solutions does a system of two equations have? Explain clearly and succinctly.
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