I understand the idea of the questio, but am perplexed as what to put in the equation to get it to equal $38906.20
Here is the question and answer
Your utility function is U = ln(2C) where C is the amount of consumption you have in
any given period. Your income is $40,000 per year and there...
What was the key identifier in that problem that said...you must find the derivative? There is no mention in the chapter of derivatives at all, so I am just trying to appreciate what signifies the derivative needing to be set to zero to solve.
Andrew, Beth, and Cathy live in Lindhville. Andrew’s demand for bike paths, a public
good, is given by Q = 12 – 2P. Beth’s demand is Q = 18 – P, and Cathy’s is Q = 8 – P/3.
The marginal cost of building a bike path is MC = 21. The town government decides to
use the following procedure for...
Here is a question we did in class...Why in the answer do we take the derivatve? How do we know to take the derivative? What in the problem would have set us off to look for the derivative and set to 0?
Consider an economy that is composed of identical individuals who live for two periods...
This was from a textbook.
We needed to reexpress a demand curve for individuals to attempt to set a new tax rate for each individual.
I was just more or less trying to find another example of how those equations were rewritten(reexpressed) so I could understand all the steps in the text...
The tax rates are shared equaly among the three residents. So in an a=b=c format the three residents all share the MC of 7.
I simply did plugging into figure out the demand, but in no way can see how to get 2.67
for example,
Q=12-2(7) = no demand for paths
Q=18-7 = 11 paths demanded
Q=...
I am solving equations for a problem where we must reexpress the equation. I have been given the reexpressed equations, but simply cannot see the steps to quickly change the expression.
The expressions are below
1. Q = 12-2P.. it is reexpressed as P = 6-Q/2
2. Q = 18-P... it is...
So with the equation MU=ln(C1)+ln(160-1.1C1)
the derivative is 1/C1 - 1.1/(160-1.1C1)
How does one solve and identify the derivative instead being seen and written as
2.2C1 = 160
What are the steps taken to get to the latter derivative. the second format was much easier to solve...
confused
Andrew, Beth, and Cathy live in Lindhville. Andrew’s demand for bike paths, a public
good, is given by Q = 12 – 2P. Beth’s demand is Q = 18 – P, and Cathy’s is Q = 8 – P/3.
The marginal cost of building a bike path is MC = 21. The town government decides to
use the following...