Sonny68
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Hey guys, I need help with 2 questions really urgently. These are economics based mathematics questions.

1) Given the consumption function:

C = 100 + 2√ y

Where:

C: total consumption (Billion $)
Y: national income (Trillion $)

What is the value of the marginal propensity to consume when Y = 2.89?
(Round your answer to two decimal places)

2) If fixed costs are 4, variable costs per unit are 1 and the demand function is:

P = 10 - 2Q

What is the profit maximising quantity? (Answer to two decimal places)
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Dancer2001
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Could we have some context? Are they A level questions? Is there any other information, and do you know how many marks it should be worth?
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Sonny68
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(Original post by Dancer2001)
Could we have some context? Are they A level questions? Is there any other information, and do you know how many marks it should be worth?
These are economics undergraduate questions. You are marked purely on the accuracy of your final answer and so they are weighted the same.
Last edited by Sonny68; 1 year ago
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RDKGames
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(Original post by Sonny68)
These are economics undergraduate questions. You are marked purely on the accuracy of your final answer and so they are weighted the same.
Not much point posting economics questions in a Maths forum.

Jargon like "marginal propensity to consume" isn't really our forte, and we can't help if you don't define things like this.
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the bear
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it may involve differentiation ?

:dontknow:
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