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Unformatted text preview: ucsc econ/ams 11b Review Questions 1 Partial Derivatives and Partial Elasticities 1. Compute the indicated partial derivatives of the functions below. a. z = 3 x 2 + 4 xy 5 y 2 4 x + 7 y 2 , z x = z y = b. F ( u,v,w ) = 60 u 2 / 3 v 1 / 6 w 1 / 2 ∂F ∂u = ∂ 2 F ∂w∂u = c. w = x 2 z ln( y 2 + z 3 ) w x = w y = w xx = w yz = w xyz = 2. Suppose that z = 3 x 2 y 3 + 5 xy 2 3 x + y 1, where x = 3 t 2 and y = 2 t + 1. Use the chain rule to compute dz dt t =0 . 3. The monthly cost function for ACME Widgets is C = 0 . 02 Q 2 A + 0 . 01 Q A Q B + 0 . 03 Q 2 B + 35 Q A + 28 Q B + 5000 , where Q A and Q B are the monthly outputs of type A widgets and type B widgets, respectively, measured in 100’s, (so, for example, if 3000 type A widgets are produced in a month, then Q A = 3000 / 100 = 30). The cost is measured on dollars. a. Compute the marginal cost of type A widgets and the marginal cost of type B widgets, if the monthly outputs are 25000 type A widgets and 36000 type B widgets.widgets, if the monthly outputs are 25000 type A widgets and 36000 type B widgets....
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This note was uploaded on 03/16/2010 for the course ECON 1xx taught by Professor Gp during the Spring '10 term at UCSC.
 Spring '10
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