Author Question: Input demand functions that are calculated from profit functions differ from those calculated from ... (Read 224 times)

bcretired

  • Hero Member
  • *****
  • Posts: 525
Input demand functions that are calculated from profit functions differ from those calculated from cost functions because:
 a. they assume cost-minimization.
  b. they hold output constant.
  c. they assume output price is constant.
  d. they assume output is set at its profit-maximizing level.

Question 2

The optimal mark-up is: m = -1/ (E+1). When the mark-up on cookware equals 50, then demand elasticity (E) for cookware is:
 a. -1
  b. -1.5
  c. -2
  d. -3



jaaaaaaa

  • Sr. Member
  • ****
  • Posts: 341
Answer to Question 1

d

Answer to Question 2

c



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

Egg cells are about the size of a grain of sand. They are formed inside of a female's ovaries before she is even born.

Did you know?

Certain rare plants containing cyanide include apricot pits and a type of potato called cassava. Fortunately, only chronic or massive ingestion of any of these plants can lead to serious poisoning.

Did you know?

People with alcoholism are at a much greater risk of malnutrition than are other people and usually exhibit low levels of most vitamins (especially folic acid). This is because alcohol often takes the place of 50% of their daily intake of calories, with little nutritional value contained in it.

Did you know?

Tobacco depletes the body of vitamins A, C, and E, which can result in any of the following: dry hair, dry skin, dry eyes, poor growth, night blindness, abscesses, insomnia, fatigue, reproductive system problems, sinusitis, pneumonia, frequent respiratory problems, skin disorders, weight loss, rickets, osteomalacia, nervousness, muscle spasms, leg cramps, extremity numbness, bone malformations, decayed teeth, difficulty in walking, irritability, restlessness, profuse sweating, increased uric acid (gout), joint damage, damaged red blood cells, destruction of nerves, infertility, miscarriage, and many types of cancer.

Did you know?

Pope Sylvester II tried to introduce Arabic numbers into Europe between the years 999 and 1003, but their use did not catch on for a few more centuries, and Roman numerals continued to be the primary number system.

For a complete list of videos, visit our video library