Good day Sir, please I want you to solve my problem for me. Question 1: Find the turning point of the following functions and determine whether they are Maxima or minima i. y = (x - 3)^2 ii. y = x^2 + 5xz + z^2 iii. y = x^2 + z^2 + v^2 Question 2: Given the utility function, U = X1^2(X2^2) i.e X sub one squre and X sub two square, with the budget constraint, M = P1X1 + P2X2, where U is the utility, X1 is the quantity of commodity one, X2 is the quantity of commodity two, P1 is the price of commodity one, P2 is the price of commodity two and M is the income of the consumer. i. Find the utility maximising quantities of both commodities. ii. If the P1 = 2 and P2 = 5 and M = 50, determine the specific quantities of both commodities. iii. Determine whether utility is maximized or minimized at the equilibrium.
The answer is wrong and here is why: C=50+0.8yd T=0.2 I= 100 G=30 First we have to find yd which is yd=y-t , which is yd= y-0.2 Then we implement this into C which is C=50+0.8(Y - 0.2) which is C= 50 + 0.8 Y - 0.16 Which gives us the C= 49.84 + 0.8Y Now we know the formula of the aggregate income which is Y = C+G+I So Y= 49.84+0.8y+30+100 Y=179.84 +0.8y We move the y:s to one side: Y-0.8Y= 179.84 0.2Y= 179.84 Y= 899.2 So our equilibrium level of national income is 899. Your answer which is 500 is wrong.
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Thanks sir
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Good day Sir, please I want you to solve my problem for me.
Question 1:
Find the turning point of the following functions and determine whether they are Maxima or minima
i. y = (x - 3)^2
ii. y = x^2 + 5xz + z^2
iii. y = x^2 + z^2 + v^2
Question 2:
Given the utility function, U = X1^2(X2^2) i.e X sub one squre and X sub two square, with the budget constraint, M = P1X1 + P2X2, where U is the utility, X1 is the quantity of commodity one, X2 is the quantity of commodity two, P1 is the price of commodity one, P2 is the price of commodity two and M is the income of the consumer.
i. Find the utility maximising quantities of both commodities.
ii. If the P1 = 2 and P2 = 5 and M = 50, determine the specific quantities of both commodities.
iii. Determine whether utility is maximized or minimized at the equilibrium.
Thanks sir I just realized how much of a huge mistake I made in my exams 😢.I ignored the .8Yd😢😢😢
Thank you so much #hilal bhai
My pleasure brother
Sir agar aap hindi me bhi bol denge to jyada achhe se samajh aayega kyuki aap jo topic pdate hai vo bahut important hote hai
The answer is wrong and here is why:
C=50+0.8yd
T=0.2
I= 100
G=30
First we have to find yd which is yd=y-t , which is yd= y-0.2
Then we implement this into C which is C=50+0.8(Y - 0.2) which is C= 50 + 0.8 Y - 0.16
Which gives us the C= 49.84 + 0.8Y
Now we know the formula of the aggregate income which is Y = C+G+I
So Y= 49.84+0.8y+30+100
Y=179.84 +0.8y
We move the y:s to one side:
Y-0.8Y= 179.84
0.2Y= 179.84
Y= 899.2
So our equilibrium level of national income is 899. Your answer which is 500 is wrong.
0.2 is pecentage of y not a direct amount so answer is correct
Hello thanks for the video can I get help in Econ questions? How could I reach out to you
Why it is 0.36?
Why 0.64Y ?