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Unformatted text preview: value. c) What general principle does this suggest for the drawing of a marginal curve and an average curve in the same diagram? d) What can you conclude about the elasticity of the total function T at the point where A reaches an extreme value? 5 . A firm has the following cost and demand functions: C=1/3Q 37Q 2 +111Q+50 Q=100P a. Write out the totalrevenue function R in terms of Q. b. Formulate the totalprofit function ∏ in terms of Q. c. Find the profit maximizing level of output Q * . d. What is the maximum profit? 6 . Find the derivative of the following function by first taking the natural log of both sides: ) 4 )( 2 ( 3 + + = X X X Y...
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This note was uploaded on 04/24/2011 for the course ECON 201 taught by Professor Takrimasyeda during the Fall '08 term at BRAC University.
 Fall '08
 TakrimaSyeda
 Economics, Income Elasticity

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