Economics:
10th Edition
ISBN: 9781285859460
Author: BOYES, William
Publisher: Cengage Learning
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Question
Chapter 9, Problem 14E
To determine
To write:
The reason for the C+I+G function having a different slope from the slope of the C+I+G+X function.
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Can someone please explain how to answer this using piecewise function?
The 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 ?
Does the output maximization level of input use exist for the following function? If yes, then what is the exact input-use level?
y = x1 + 0.1x12 - 0.05x13 + x2 + 0.1x22 - 0.05x23
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