Homework help...

[David.]

Thanks Nate and Drew... The answer for the first one was 50 somehow.. collective effort got the second correct

 

[natedagg]

Thanks Nate and Drew... The answer for the first one was 50 somehow.. collective effort got the second correct

Piece of cake after you gave the answer. All I did was reverse engineer it: if you toss your "5" into the avg cost function (f(x)) / x , you have
f(5)/5 = (5*5^2 + 125) / 5 = 250 / 5 = 50. Nailed it!

 

[David.]

lol yes, the equation is generally easy to figure out once you have the answer and the question

 

[natedagg]

lol yes, the equation is generally easy to figure out once you have the answer and the question

My point was this: when asked for minimum avg. cost, it's a 2 parter:

1. set the avg cost function's derivative to 0, solve for x. you did this, and you were correct.
2. use the input answer and plug it into your avg cost function (not the derivative). you did not do this.

at any rate, you should be able to answer these types of questions from here on out, now that you know the 2nd part that you were missing.

 

[David.]

this just got tricky..

1. Given the demand equation p +1/40x =10, find the elasticity of demand.

I know the formula is (dQ / dP)*(P/Q), but how are you supposed to arrive at the differences without a point?

2. Most Economical Speed A truck has a top speed of 75 miles per hour and, when traveling at the rate of x miles per hour, consumes gasoline at the rate 1/200 ((2304/x)+x) of gallon per mile. If the length of the trip is 200 miles and the price of gasoline is $1.60 per gallon, the cost is c(x)=1.6((2304/x)+x) where C(x) is measured in dollars.

What is the most economical speed for the truck? Use the interval [10, 75]. Round your answer to 2 decimal places.

3. On a particular product, government economists determine that the relationship between tax rate t and the quantity q consumed is

t+ 3q^2=27

Find the optimal tax rate and the revenue generated by this tax rate. Round your answers to 2 decimal places.

what is the maximum rev?

4. The discussion about elasticity assumed that the demand x is a function of price p . However, in economics it is common to use x as the independent variable. Thus, if p=f(x) is the demand equation, then it can be shown the elasticity of demand is given by
p=f(x)=30-2(sq rt of x); x=70

what is |e(70)|

5, A demand function is given. Find e(p) and determine if demand is elastic, inelastic, or unit elastic at the indicated price.x=f(p)=300/(p+1) p=12

enter the e(p) as a function of p.

|e(p)| =








old school rep given

 

[Walter White]

This should be really freakin easy but I forgot how to do it. So if someone is planning to buy a house in 3 years for 16,000 bucks, and the current interest rate is 6% compounded semi annually, how much should they deposit today?

Semi annual is twice a year so that would be 6 total time periods. Do you just go to the present value interest chart, and go to period 6 across to 6% and find the number? Or is it period 6 and you go to 12% because it is compounded? I don't remember. The 6 and 12% one is .5066 and the 6 and 6% is .7050. And then you just take that number mulitplied by the 16,000 dollars. 16 thou times .5066 is $8,105.60 and .7050 x 16000 is 11,280. One of those are right right? Or did I eff it up?

 

[Walter White]

Forget it now. I already had the class. Thanks for the help guys :thumbdown

 

[Shakalu M.D.]

Forget it now. I already had the class. Thanks for the help guys :thumbdown

 

[Walter White]

I did eff that up though. I was suppose to cut the interest rate in half if its semi annual.

 

[Maximus]

OK, back to the easy stuff. :chuckles:

1) Art, Becky, Carl, Denise and Ed all want to go to a concert. However there are only 3 tickets. How many ways can they choose the 3 who get to go to the concert?

- What's the formula for questions like this?

2) A combination lock has 36 numbers on it. How many different 3-number combos are possible if no number is repeated?

- Answer? What formula do you use for problems like this?

3) Numbers are to be formed using the digits 1, 2, 3, 4, 5, and 6. No digit may be repeated.
- How many two-digit numbers can be formed?
- How many three-digit?
- Four?
- Five?
- Six?


Thanks!!!!

 

[Maximus]

Stop watching porn and answer me!!!

 

[The Oi]

Worst dad ever. What subjects are you actually useful for?

Too overweight to help with gym.

 

[Young Blood]

OK, back to the easy stuff. :chuckles:

1) Art, Becky, Carl, Denise and Ed all want to go to a concert. However there are only 3 tickets. How many ways can they choose the 3 who get to go to the concert?

- What's the formula for questions like this?

2) A combination lock has 36 numbers on it. How many different 3-number combos are possible if no number is repeated?

- Answer? What formula do you use for problems like this?

3) Numbers are to be formed using the digits 1, 2, 3, 4, 5, and 6. No digit may be repeated.
- How many two-digit numbers can be formed?
- How many three-digit?
- Four?
- Five?
- Six?


Thanks!!!!

1. A combination: http://en.wikipedia.org/wiki/Combination

Use the formula on the wiki page. n!/k!(n-k)!

n=5, k=3

2 and 3. Permutations: http://en.wikipedia.org/wiki/Permutation

Use the formula on the wiki page. n!/(n-k)!

2. n=36, k=3
3. n=6, k=2,3,4,5,6

 

[Maximus]

Worst dad ever. What subjects are you actually useful for?

I know.

Too overweight to help with gym.

Can you work with him on hoops, he's 5'2" an 125 lbs just like you.

 

[The Oi]

I know.



Can you work with him on hoops, he's 5'2" an 125 lbs just like you.

Yeah, teach him to pass the ball and if the black kids at the park pass him the ball, NEVER miss his first shot.