Mathematics, 20.02.2020 07:26 drcarver

Suppose that there are two commodities x and y. Jim’s demand for commodity x as a function of prices and income is given by Qx(px, py, W)=W/(px+2py). What is the expression for Jim’s demand for commodity y as a function of prices and income?

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Answer from: blackboy21

Qy(px,py,W)=W/(px+2py)

Step-by-step explanation:

From the question, we have:

Qx(px,py,W)=W/(px+2py) (1)

Equation (1) implies that the demanded for commodity x is determined by its own price, px, price of commodity y, py, and the total income of the consumer, W.

When we have this kind of demand function, it implies that demand for each good not only depends on its own price but also the price of other commodity and the income of the consumer. This statement can be employed to get and expression for Jim’s demand for commodity y as a function of prices and income as follows:

Qy(px,py,W)=W/(px+2py) (2)

Equation (2) two therefore also implies that the demanded for commodity y is determined by its own price, py, price of commodity x, py, and the total income of the consumer, W.

Answer from: Quest

they will manufacture 8496 cars

Answer from: Quest

the system of inequity is

$y\leq -x+4$

$3y> x$

step-by-step explanation:

from the given graph it is noticed that we have two related lines. one is solid and another is dashed.

if a line passing through two points, then the equation of line is

$y-y_1=\frac{y_2-y_1}{x_2-x_1}(x-x_1)$

the solid line passing through the points (0,4) and (4,0).

$y-4=\frac{0-4}{4-0}(x-0)$

$y=-x+4$

the related equation of solid line is $y=-x+4$ .

similarly, find the related equation of dashed line. the dashed liune passing through the points (0,0) and (3,1).

$y-0=\frac{0-1}{3-0}(x-0)$

$3y=x$

the related equation of dashed line is $3y=x$

from the given graph it is noticed that the point (0,1) lies on the shaded region, therefore the point (0,1) must be satisfied by the related equations.

check the related equations by the point (0,1).

$1=-0+4$

$1=4$

this statement is true if the sign of inequality is < instead of equality. since it is an solid line therefore the sign of inequality will be $\leq$ . the required inequality is

$y\leq -x+4$

similarly, check the second related equation.

$3(1)=0$

it is a dashed line, so this statement is true if the sign of inequality is > . the required inequality is

$3y> x$

15 points write a system of inequalities to represent the shaded portion of the graph

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