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EC4004 Quadratic Equations Assignment

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Added on: 2023-05-05 09:16:24
Order Code: clt244642
Question Task Id: 0
  • Subject Code :

    EC4004

  • Country :

    Australia

  1. For each of the following find:
    1. The y-intercept
    2. The roots (if any) of the equation.
    3. Sketch the curve

      (a)y=x2

      (b)y=x2+4

      (c)y=3x2- 6x- 4

      (d)y= -2x2- 8x+24

      (e)y=x2+6x+ 9

  2. A firms total Revenue (TR) depends on its level of output (Q). Hence TR = f(Q). If the price of the output is denoted P, then the TR is always P x Q.
    • You should be able to recognize that this is a linear function with an intercept of 50 and a slope of 2.
    • The TR = P x Q = (50 2Q).Q. Hence, 2 + 50. Sketch the graph of this TR line and find the roots. Hint: put TR on the vertical axis and Q on the horizontal.
  3. Sketch the graph of a total cost (TC) function: 2 + 10
  4. Demand and supply curves are not usually linear (although they are often drawn that way). Sketch the following demand and supply curves on a single graph:

    Demand:PD= -Q2+4

    Supply: Ps=Q2-0.5

Note: you only need the positive part of the graph for this sketch. Try and work out the point at which the graphs intersect (equilibrium price and quantity).

  • Uploaded By : Katthy Wills
  • Posted on : May 05th, 2023
  • Downloads : 0
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