Using interval notation to express all real numbers less than or equal to
a Or greater than or equal to
b
Write the interval expressing all real numbers less than or equal to
or greater than or equal to
We have to write two intervals for this example. The first interval must indicate all real numbers less than or equal to 1. So, this interval begins at
and ends at
which is written as
The second interval must show all real numbers greater than or equal to
which is written as
However, we want to combine these two sets. We accomplish this by inserting the union symbol,
between the two intervals.
When we work with inequalities, we can usually treat them similarly to but not exactly as we treat equalities. We can use the
addition property and the
multiplication property to help us solve them. The one exception is when we multiply or divide by a negative number; doing so reverses the inequality symbol.
Properties of inequalities
These properties also apply to
and
Demonstrating the addition property
Illustrate the addition property for inequalities by solving each of the following:
(a)
(b)
(c)
The addition property for inequalities states that if an inequality exists, adding or subtracting the same number on both sides does not change the inequality.
Solving inequalities in one variable algebraically
As the examples have shown, we can perform the same operations on both sides of an inequality, just as we do with equations; we combine like terms and perform operations. To solve, we isolate the variable.
Solving an inequality algebraically
Solve the inequality:
Solving this inequality is similar to solving an equation up until the last step.
The solution set is given by the interval
or all real numbers less than and including 1.
In economics, a perfect market refers to a theoretical construct where all participants have perfect information, goods are homogenous, there are no barriers to entry or exit, and prices are determined solely by supply and demand. It's an idealized model used for analysis,
When MP₁ becomes negative, TP start to decline.
Extuples Suppose that the short-run production function of certain cut-flower firm is given by: Q=4KL-0.6K2 - 0.112 •
Where is quantity of cut flower produced, I is labour input and K is fixed capital input (K-5). Determine the average product of lab
Kelo
Extuples Suppose that the short-run production function of certain cut-flower firm is given by: Q=4KL-0.6K2 - 0.112 •
Where is quantity of cut flower produced, I is labour input and K is fixed capital input (K-5). Determine the average product of labour (APL) and marginal product of labour (MPL)
Quantity demanded refers to the specific amount of a good or service that consumers are willing and able to purchase at a give price and within a specific time period. Demand, on the other hand, is a broader concept that encompasses the entire relationship between price and quantity demanded
Ezea
ok
Shukri
how do you save a country economic situation when it's falling apart
Economic growth as an increase in the production and consumption of goods and services within an economy.but
Economic development as a broader concept that encompasses not only economic growth but also social & human well being.
Shukri
production function means
Jabir
What do you think is more important to focus on when considering inequality ?
sir...I just want to ask one question... Define the term contract curve? if you are free please help me to find this answer 🙏
Asui
it is a curve that we get after connecting the pareto optimal combinations of two consumers after their mutually beneficial trade offs
Awais
thank you so much 👍 sir
Asui
In economics, the contract curve refers to the set of points in an Edgeworth box diagram where both parties involved in a trade cannot be made better off without making one of them worse off. It represents the Pareto efficient allocations of goods between two individuals or entities, where neither p
Cornelius
In economics, the contract curve refers to the set of points in an Edgeworth box diagram where both parties involved in a trade cannot be made better off without making one of them worse off. It represents the Pareto efficient allocations of goods between two individuals or entities,
Cornelius
Suppose a consumer consuming two commodities X and Y has
The following utility function u=X0.4 Y0.6. If the price of the X and Y are 2 and 3 respectively and income Constraint is birr 50.
A,Calculate quantities of x and y which maximize utility.
B,Calculate value of Lagrange multiplier.
C,Calculate quantities of X and Y consumed with a given price.
D,alculate optimum level of output .
the market for lemon has 10 potential consumers, each having an individual demand curve p=101-10Qi, where p is price in dollar's per cup and Qi is the number of cups demanded per week by the i th consumer.Find the market demand curve using algebra. Draw an individual demand curve and the market dema
suppose the production function is given by ( L, K)=L¼K¾.assuming capital is fixed find APL and MPL. consider the following short run production function:Q=6L²-0.4L³ a) find the value of L that maximizes output b)find the value of L that maximizes marginal product
