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Unformatted text preview: a. y = 12x 1 2 – 6 x 1 2 x 2 . b. Q = 6K 2 L. 7. Solve the following system of equations: 5Q + 4P = 20 4Q – P = 10. 8. Suppose U(w) = w 0.5 . If U(x – 2) = 20, find the value of x. 9. Suppose y(K, L) = K 2 L. a. Find the partial derivative of y w.r.t K and L (that is, ∂ y/ ∂ K =? and ∂ y/ ∂ L = ?). b. Is ∂ y/ ∂ K increasing or decreasing in K? c. What can you say about the relationship between ∂ y/ ∂ L and L? d. Draw the graphs of ∂ y/ ∂ K vs. K with L fixed at 10. e. Draw the graphs of ∂ y/ ∂ L vs. L with K= 5....
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This note was uploaded on 01/03/2011 for the course COMM 290 taught by Professor Brian during the Winter '09 term at UBC.
 Winter '09
 Brian

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