EBK INTERMEDIATE MICROECONOMICS AND ITS
12th Edition
ISBN: 9781305176386
Author: Snyder
Publisher: YUZU
expand_more
expand_more
format_list_bulleted
Question
Chapter 1A.3, Problem 1MQ
A
To determine
To find: the value of X when Z is reduced from 9 to 3 and Y is equal to 3.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
The profit function in dollars for a product is given -x^3+76x^2-380x-2800 where x is the number of units produced and sold. If break even occurs when 10 units are produced and sold find a quadratic factor of the profit function and find a number of units other than 10 that gives break even for the product.
The global microchip shortage is causing significant price increases for both new and used vehicles (and for a wide variety of other consumer products). Does this necessarily mean that the revenues earned by chip manufacturers will be up? Why or why not?
A firm charges $800 for its unique word processor. If total revenue is $56,000 in July, how many word processors were sold that month?
Chapter 1A Solutions
EBK INTERMEDIATE MICROECONOMICS AND ITS
Knowledge Booster
Similar questions
- Consider the production function: Y = 0.75X + 0.0042X2 – 0.000023X3 If input price is 0.15$ and output price is 4$ then at what level of X, profit will be maximum?arrow_forwardSuppose the relationship between your study time and your grade on a History midterm is given by the following table:If you study for Your grade will be4 hours 805 hours 906 hours 93What is the "marginal grade improvement (MGI)" of the 5th hour of studying? What is the "marginal grade improvement (MGI)" of the 6th hour of studying? Why might the MGI be diminishing?arrow_forwardWhat is the maximum profit when the the profit-versus-production function is given below? P is profit and x is unit of production P = 200,000 – 1x- (1.1/(X+1)) to the 8th power?arrow_forward
- The total cost C of making x units of a commodity is given by C = 0.005(x)3 + 0.45(x)2 + 12.75(x). All units made are sold at $36.75 per unit. The profit P is then given by P = 36.75(x) - C. Find the number of units to make to maximize profit.arrow_forwardif the short run is six months, does it follow that the long run is longer than six months?arrow_forwardA company finds that it can sell out a certain product that it produces, at the rate of Tk. 2 per unit. 1 It estimates the cost function of the product to be Tk. 1000 + 2 50 for q units produced. (i) Find the expression for the total profit, if q units are produced and sold. (ii) Find the number of units produced that will maximize profit. (iii)What is the amount of this maximum profit? (iv) What would be the profit if 6000 units were produced?arrow_forward
- If the production function is Q = 30 + 22L + 44K, what’s the most you can produce with 9 workers (L) and 2 unit of capital (K)?Enter as a value.arrow_forwardThe technical rate of substitution between factors x2 and x1 is −4. If you desire to produce the same amount of output but cut your use of x1 by 3 units, how many more units of x2 will you need?arrow_forwardThe cost (C) of a apples in dollars can be represented by the function C(a)=0.27a, and the cost (P) in dollars of b bananas can be represented by the function P(b)=kb, where k is a constant. If C(10)+P(8)=$5.34, what is k ?arrow_forward
- A firm produces output according to the production function:Q = F(K, L) = 4K + 8L.a. How much output is produced when K = 2 and L = 3? unit(s)b. If the wage rate is $60 per hour and the rental rate on capital is $20 per hour, what is the cost-minimizing input mix for producing 32 units of output?Capital: Labor: c. If the wage rate decreases to $20 per hour but the rental rate on capital remains at $20 per hour, what is the cost-minimizing input mix for producing 32 units of output?Capital: Labor:arrow_forwardWrite the technical rate of substitution expression for f(x1, x2) = (x1 - 1)0.25 x20.5arrow_forwardThe cost of producing 5-gallon water bottles is given by C(q) = 0.005q2 + 2q + 1000. If 2000 5-gallon water bottles are produced, find the total costarrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
Exploring EconomicsEconomicsISBN:9781544336329Author:Robert L. SextonPublisher:SAGE Publications, Inc
Exploring Economics
Economics
ISBN:9781544336329
Author:Robert L. Sexton
Publisher:SAGE Publications, Inc