Solutions for Microeconomics 2nd Us Edition by Cowell

q =1 q =2

z4 =[0 25, 0 5] q =1

, 1)

5, 2 5)

3)

,q)=

(w,q)=

(w,q)=

C (w,q)= a (w) b (q)

H i(w,q) i q

H i(w,q)

H j (w,q) q

H i(w,q)

q,q

H i (w,q ) = H j (w,q)

H j (w,q )

H i(w,q)/H i (w,q ) w q =1

H 1(w,q)

H 1(w, 1) = H 2(w,q)

H 2(w, 1) = ... =

H m(w,q)

H m(w, 1) = b(q)

H i(w,q)= b(q)H i(w, 1)

C(w,q)=

iH i(w,q)

ib(q)H i(w, 1)

=1

b(q) m i=1 wiH i(w, 1) = a(w)b(q) a(w)= m i=1 wiH i(w, 1)

LRMC=LRAC=constant

C q q,q q + q ≤ q

C (w,q + q ) <C (w,q)+ C (w,q ) N> 1

C (w,q) <NC w, q N 0 ≤ q ≤ q q = q C (w, 2q) < 2C (w,q) C (w,q)+ C (w, 2q) < 3C (w,q) q =2q

C (w, 3q) <C (w,q)+ C (w, 2q) < 3C (w,q)

16+ q 3 i qi i

=6

=4

=2 A =3

AC= 16 qi + q 2 i

MC=3q 2 i

3q 2 i = 16 qi + q 2 i 2q 3 i =16

qi = 3 16 2 =2 qi =2 AC=MC= p =12 qi p =MC p ≥ AC

p 3 p> 12 0 2 p =12

p< 12