Determine whether the indicated products are

Question

Problem 1.

Using graphing strategy plot the graph of the function f(x) =2x³ +3x² -12x

Problem 2:

The daily demand equations for the sale of brand A coffee and brand B coffee in a supermarket are

Q₁(P₁, P₂) = 200 - 5P₁ + 4P₂ (Brand A)

Q₂(P₁, P₂) = 300 + 2P₁ - 4P₂ (Brand B),

determine whether the indicated products are competitive, complementary, or neither.

Problem 3.

A demand function is given by Q(P)=800-25P

a) Find the elasticity.
b) Find the elasticity at a price of $12 per barrel, stating whether the demand is elastic or inelastic.
c) Find the elasticity at a price of $16 per barrel, stating whether the demand is elastic or inelastic.
d) Find the elasticity at a price of $20 per barrel, stating whether the demand is elastic or inelastic.

Problem 4.

Consider Cobb-Douglas production functionQ=9K^(2/3)L^(1/3)

a) Find total output when K=1000 and L=125.

b) Derive marginal productivity of capital.

c) Derive marginal productivity of labor.

d) Calculate these partial derivatives when K=1000 and L=125