0
votes
1answer
12 views

Question about plotting indifference curves

So I am doing a last year paper on microeconomics I m asked to find pareto efficiencies , cores and so on within the edgeworth box. So what I wanna know is that whe they give me in this exercise the ...
1
vote
1answer
38 views

Need recommendations for a function with certain properties

Not sure if this might be a strange way of posing a question, but anyway: I need a function $f(v,p,a)$ with the following properties: it is defined for $v \in [-\infty,\infty]$ it is defined for $p ...
0
votes
1answer
190 views

profit function to find diminishing returns

For the profit function $p=3s^3 +45s^2 −125s+250$ , find the amount spent on advertising (in thousands of dollars) that is the point of diminishing returns?
0
votes
3answers
54 views

For the profit function, find the amount spent on advertising that maximizes the profit

For the profit function $p=3s^3+45s^2-125s+250$, find the amount spent on advertising (in thousands of dollars) that maximizes the profit.? Please help :(
-1
votes
1answer
91 views

For a price and cost function, at what rate do the weekly sales change per week?

For a price function of $p=4000-25x$ and a cost function of $C=1800x+4500$, if the profit is increasing at a rate of $3000$ per week and the weekly sales are $x=32$ units, at what rate do the weekly ...
0
votes
1answer
106 views

What is the definition of the slope of a linear function in the context of economic graphs?

I only ask this because of the fact that economists tend to plot the dependent variable on the horizontal axis and the independent variable on the vertical, which is opposite to the "normal" way of ...
1
vote
2answers
162 views

What is the equation representing a constant elasticity of 1?

I'm reading the chapter in my textbook about the price elasticity of demand, and it was pointed out that most demand curves do not represent a constant elasticity of demand - even linear curves like ...
1
vote
1answer
1k views

Properties of first degree homogeneous functions

This is a math question, even if it may seem an economics one. I'll try to explain all the economics in this question. I've got the following production function, where $Y$ is the product, $L$ is the ...