- Find the marginal revenue function for the total revenue function given by1TR(Q) = 500QQ3- -3Find the marginal cost function for the total cost function given byTC(Q) = Q3 – 90Q² + 7,500Q . Find the first, second, and cross partial derivatives for the following function:ƒ (x, y) = 12x* – 6x²y+ 4xy³For each of the following production functions, compute the marginal product of capital(MPK) and the marginal product of capital (MPL).Q = 3K0.4 + 4LO.3a.b. Q = K²/5L3/5For each of the following utility functions, compute the marginal utility of good X (MUx) andthe marginal utility of good Y (MU).a. U(X,Y) = 3X1/2 + 5Y1/2b. U(X, Y) 3D Хх0.5ү0.4

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Find the marginal revenue function for the total revenue function given by 1 TR(Q) = 500Q Q3 3.

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)

14th Edition

ISBN:9781305506381

Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Chapter7: Production Economics

Section: Chapter Questions

Problem 6E

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Question

- Find the marginal revenue function for the total revenue function given by
1
TR(Q) = 500Q
Q3
- -
3
Find the marginal cost function for the total cost function given by
TC(Q) = Q3 – 90Q² + 7,500Q

. Find the first, second, and cross partial derivatives for the following function:
ƒ (x, y) = 12x* – 6x²y+ 4xy³
For each of the following production functions, compute the marginal product of capital
(MPK) and the marginal product of capital (MPL).
Q = 3K0.4 + 4LO.3
a.
b. Q = K²/5L3/5
For each of the following utility functions, compute the marginal utility of good X (MUx) and
the marginal utility of good Y (MU).
a. U(X,Y) = 3X1/2 + 5Y1/2
b. U(X, Y) 3D Хх0.5ү0.4

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