0
votes
0answers
51 views

Finding criteria for a household financial budget falsification

I’m working on a financial problem about budget of households. Households in a state fill a form about their net budget in every year and our insurance company investigate their financial status and ...
4
votes
1answer
77 views

Increasing marginal product implies increasing returns to scale?

Setup Let $f(x,y)$ be twice differentiable in both $x$ and $y$. Assume $\partial f/\partial x>0,\partial f/\partial y>0$ for $x,y>0$. $f$ is said to have increasing marginal product of ...
-1
votes
1answer
27 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
42 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 ...
-1
votes
1answer
100 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
134 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
235 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 ...
0
votes
1answer
295 views

What can I deduce from the graph of marginal value?

Homework problem: We have a graph of value: x coordinate number of widgets made. y coordinate value in $. For the first 5 widgets the value greatly increases to $100 and then after 5 ...