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明天就要交了，一点都不会，请学过的同学也帮帮忙看看这两到题好吗？
十万火急，急求学ECON2002G或学过的兄弟姐妹讲解ASSIGNMENT3
thankkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkks~~~~~~~~~~~
1. a perfectly competitive market has demand curve p=30-0.003y. if every firm in the industry has an average cost function AC=36/y+y,
a. what is the equilibrium price and quantity in the market?
b. What is the long-run equilibrium number of firms?
c. Find the market supply function.
d. Calculate the producer and consumer surplus for this competitive equilibrium.
2. out put produced by a firm using inputs z1 and z2 with the production function f(z1,z2)=z1z2. the prices of the inputs are w1 and w2, repectively.
a. if z2 is fixed at z2’, derive the short-run total cost function for the firm as a function of y, w1,w2, and z2’.
b. Now suppose that z2 is free to vary. Using the first and second principles of cost minization , derive the conditional input demand functions and the long-run total cost function.
c. What value of z2’ would make the cost functions you found in a and b equal?
d. Ifz2’ does not equal this value, which is larger, the cost function in a or b?
1. y=(z1)^(1/3)*(z2)^(2/3)
where z1 is the fixed input and z2 the variable input. There are two plants using this technology: in plant1, quantity of the fixed input is z1=1, and in plant2, quantity of the fixed input is z1=2. the price of the variable input is w2=$5.
Find the total, average, the marginal production functions for the two plants. Then find the variable cost, the average variable cost, and the marginal cost functions for the two plants.
十万火急，急求学ECON2002G或学过的兄弟姐妹讲解ASSIGNMENT3
thankkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkkks~~~~~~~~~~~
1. a perfectly competitive market has demand curve p=30-0.003y. if every firm in the industry has an average cost function AC=36/y+y,
a. what is the equilibrium price and quantity in the market?
b. What is the long-run equilibrium number of firms?
c. Find the market supply function.
d. Calculate the producer and consumer surplus for this competitive equilibrium.
2. out put produced by a firm using inputs z1 and z2 with the production function f(z1,z2)=z1z2. the prices of the inputs are w1 and w2, repectively.
a. if z2 is fixed at z2’, derive the short-run total cost function for the firm as a function of y, w1,w2, and z2’.
b. Now suppose that z2 is free to vary. Using the first and second principles of cost minization , derive the conditional input demand functions and the long-run total cost function.
c. What value of z2’ would make the cost functions you found in a and b equal?
d. Ifz2’ does not equal this value, which is larger, the cost function in a or b?
1. y=(z1)^(1/3)*(z2)^(2/3)
where z1 is the fixed input and z2 the variable input. There are two plants using this technology: in plant1, quantity of the fixed input is z1=1, and in plant2, quantity of the fixed input is z1=2. the price of the variable input is w2=$5.
Find the total, average, the marginal production functions for the two plants. Then find the variable cost, the average variable cost, and the marginal cost functions for the two plants.
