📘 economics

1. The problem: Understanding the fiscal account deficit in underdeveloped countries from 1940 to 1972 involves analyzing economic data and trends rather than solving a mathematica

1. **Stating the problem:** We need to distinguish between cardinal utility theory and ordinal utility theory using diagrams and highlight two weaknesses of each approach. 2. **Car

1. **State the problem:** A clothing company raised the price of a coat from 100 to 120, and the quantity sold decreased from 1000 to 900. We need to find the price elasticity of d

1. **State the problem:** We have a profit function $\pi = -2Q^2 + 9Q - 4$.

1. **State the problem:** We have the average cost function $AC = \frac{80}{Q} + 2 + Q$ and a linear demand function with points $(Q=1, P=29)$ and $(Q=10, P=20)$. We need to find t

1. **State the problem:** We are given the average cost function $$AC = \frac{80}{Q} + 2 + Q$$ and we want to understand its behavior. 2. **Formula and explanation:** The average c

1. **Problem Statement:** We are given the average cost function $$AC = \frac{100}{Q} + \frac{4}{\sqrt{Q}} + 3$$ and two points on the demand curve: $$A=\left(\frac{4}{3},1\right)$

1. Problem 2a: Find the equilibrium price and quantity where demand equals supply. 2. Given demand: $$Q_D = \frac{-P^2 + 5}{P + 1}$$ and supply: $$Q_S = P + 1$$.

1. **Problem Statement:** Calculate the income elasticity of demand when the price is $40 using the midpoint method. 2. **Formula:** Income elasticity of demand is given by

1. **Stating the problem:** We have a demand schedule for motel rooms with prices, quantities demanded, total revenue, and percentage changes in price and quantity. We need to veri

1. **Problem Statement:** We need to compute the Paasche Quantity Index, which measures the change in quantity of a basket of goods between two periods using current period prices.

1. **State the problem:** We have the Cobb-Douglas production function $$Q=10L^{0.7}K^{0.3}$$ where $Q$ is output, $L$ is labor, and $K$ is capital. We want to find the approximate

1. **State the problem:** Calculate the Paasche quantity index for the basket of items using 2021 as the base year. 2. **Formula:** The Paasche quantity index is given by:

1. **State the problem:** Calculate the Paasche quantity index using 2021 as the base year. 2. **Formula:** The Paasche quantity index is given by

1. **State the problem:** We are given demand and supply functions and need to find the equilibrium price and quantity where demand equals supply. 2. **Write the functions:**

1. The problem is to analyze the demand and supply functions, which are typically given as equations relating quantity demanded or supplied to price. 2. The demand function usually

1. **State the problem:** We are given a demand function and a supply function and need to find the equilibrium price and quantity. 2. **Recall the equilibrium condition:** The equ

1. **State the problem:** We are given demand and supply functions and need to find the equilibrium price and quantity where demand equals supply. 2. **Formulas and rules:** The eq

1. **State the problem:** We have the revenue function $$R(x) = -0.025x^2 + 900x$$ and the cost function $$C(x) = 200x + 280000$$.

1. Le problème demande de trouver la cotation CHF / EUR à partir de la cotation EUR / CHF donnée comme 1,6005 – 1,6014. 2. La cotation EUR / CHF signifie combien de francs suisses

1. **Problem Statement:** We have a total cost function $$TC = 500 + 40Q - 0.5Q^2$$ and a total revenue function $$TR = 60Q$$. We need to find: