5. Marginal versus average effects Consider the nonlinear function shown by the blue curve on the following graph. The grey line is tangent to this curve at point A. Use the grey line (star point) to answer the following question. (Note: You will not be graded on your placement of this line.) > 10 9 8 7 A 6 4 3 2 1 Tangent Line f(x) 0+ + + + + + 0 1 2 3 4 5 6 7 8 9 10 X The marginal effect of X on Y at point A is The average effect of X on Y at point A is True or False: For this graph, the marginal effect decreases as X increases. True False Scratch Line (?)
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- The following graph contains four lines (A, B, C and D), each of which has a slope that is either positive, negative, zero, or infinite. Y-axisX-axisBDCA For each of the following scenarios, indicate whether the relationship between the two variables is positive or negative, as well as which line on the previous graph has a slope that reflects this type of relationship. Hint: The X-axis and Y-axis on the graph are not labeled intentionally. You need to substitute the variables from each scenario for the horizontal and vertical axis. For example, in the first scenario, X-axis should be labeled “ ice-cream" and Y-axis should be labeled "The temperature". Scenario Relationship Line As the temperature rises, the demand for ice-cream rises. Negative As the temperature rises, the demand for hot cocoa falls. Positive As the temperature falls, the demand for popsicles falls. Negative True or False: Line B has a slope of infinity.…36- What is the slope of a nonlinear function at its minimum point? a) 3 B) 4 NS) one D) 0 TO) 2nd40) In the above figure, a negative relationship is demonstrated in which of the graphs? A) Figure A B) Figure B Figure C DIigure D
- y = (3 - x)6 + 7 apply the function in economic optimization conceptSuppose you have a linear optimization model where you are trying to decide which products to produceto maximize profit. Answer the following questions and be as specific as possible.(a) What does the additive assumption imply about the profit objective? (b) What does the proportionality assumption imply about the profit objective? (c) Can you think of any reasonable profit functions that would not be linear in the amounts of theproducts produced?Y Score on Economics Final Exam 100 75 50 25 A 0 5 10 Hours of Study How would you describe the relationship shown in the graph? A Linear Direct Relationship B A Linear Inverse Relationship A Linear Independant Relationship C A Nonlinear Infinite Relationship D 15 20 X
- Complete the table below: Output TotalCost(RM) Totalvariablecost(RM) Totalfixedcost(RM)Averagefixedcost(RM)Averagetotalcost(RM)Marginalcost (RM) 0 505 16010 20020 25036 33058 40072 48088 580106 700130 820150 980Paragraph 1. Draw the graph and find the slope for the following set of data-Show your work. a) b) Fy Point A B C D E F G X 0 5 10 15 20 25 ×-888888 0 100 200 300 400 500 600 2 Y 356260- 9 12 15 Y 175 150 125 100 Styles 75 50 25What is the answer of this graph? Where my graph should shift? Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
- WHat are the graphs for both?5. Suppose a quadratic function is given by y = f(x) = x29x + 8. (a) Does this function represent an upward or downward facing parabola? Explain. Find the x - coordinate of the vertex (or the equation of the vertical line that intersects the parabola at the vertex) of the parabola.(b) Find the roots of the quadratic function. 1 (c) Using information from (a) and (b) draw a well labelled graph of the parabola (in particular, label the vertex and the roots).(d) In the same graph as (c), draw the parabola if it was instead represented by the function f(x) = x2-9x + 21. How many roots does this parabola have?6. Suppose an inverse demand function is given by p =10 - qd and an inverse supply function is given by p = 4+ 2qs. (a) What is the equilibrium price and quantity combination? (b) What happens when the price is above or below the equilibrium price? 7. How many solutions does a system of two equations have? Explain clearly and succinctly.Oregon Fiber Board makes roof liners for the automotiveindustry. The manufacturing manager is concerned aboutproduct quality. She suspects that one particular failure, tears in the fabric, is related to production-run size. An assistantgathers the following data from production records: a. Draw a scatter diagram for these data.b. Does there appear to be a relationship between run sizeand percent failures? What implications does this datahave for Oregon Fiber Board’s business?