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Define a weakly concave on the Cobb-Douglas Function
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- Define the conditions for a weakly quasi-concave Cobb-Douglas FunctionConvexity & Concavity Consider the function defined by the formula This function is 200 if 0 < x < 20 x y = f(x) = 30- x if 20 ≤x≤40 200 if 40 < x < 60 x a. Concave but not strictly concave b. Strictly convex c. Strictly concave d. Convex but not strictly convex e. I cannot tell because the second derivative of f(x) cannot be calculatedIs the function v(x1,x2)=x21x32 a monotonic transformation of u(x1,x2) ? Select one: a. No b. Yes
- Please find the effect of Y and r if there is a decrease in the tax rate. Use the following equations and evaluate the total derivative.Quadratic Functions #2 (in image)The Augsburg math club paid $200 for fancy souvenir water bottles that they are going to sell next year for $6 each at the Taste of Augsburg during Homecoming Weekend. Define two variables that relate quantities in this story. Which one is the input of this function and which one is the output? Write an equation for your function, and briefly explain why your function is valid.
- Define the strict gradient series?A street vendor constructs the table below on the basis of sales data. (Note: Consumer expenditure and revenue are terms for the same thing from different perspectives. Consumer expenditure is the amount of money that consumers spend on a product, and revenue is the amount of money that businesses take in by selling the product.) Sales of Roses, Given the Price per Dozen Sales (dozen roses) Price (dollars) 20 25 30 32 (a) Find a quadratic function for the model of the data that gives the quantity sold at x dollars, data from 20 sxs 32. (Round all numerical values to three decimal places.) S(x) = 169 159 134 94 (b) Find a function for the model for consumer expenditure (revenue for the vendor), where x is the price in dollars, data from 20 sxs 32. (Round all numerical values to three decimal places.) R(x)= Need Help? (c) What price should the street vendor charge to maximize consumer expenditure? (Round your answer to two decimal places.) (d) If each dozen roses costs the vendor $11,…Now assume that the utility function takes the function form u(c) = ln(c). Note that the derivative of the natural logarthm is u'(c) = 1/c .
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