This module is from Fundamentals of Mathematics by Denny Burzynski and Wade Ellis, Jr. This module discusses applications of proportions. By the end of the module students should be able to solve proportion problems using the five-step method.
Section overview
The Five-Step Method
Problem Solving
The five-step method
In
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The first and most important part of solving a proportion problem is to determine, by careful reading, what the unknown quantity is and to represent it with some letter.
The five-step method
The five-step method for solving proportion problems:
By careful reading, determine what the unknown quantity is and represent it with some letter. There will be only one unknown in a problem.
Identify the three specified numbers.
Determine which comparisons are to be made and set up the proportion.
Solve the proportion (using the methods of
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Interpret and write a conclusion in a sentence with the appropriate units of measure.
Step 1 is extremely important. Many problems go unsolved because time is not taken to establish what quantity is to be found.
When solving an applied problem,
always begin by determining the unknown quantity and representing it with a letter.
Problem solving
Sample set a
On a map, 2 inches represents 25 miles. How many miles are represented by 8 inches?
The unknown quantity is miles.
Let
number of miles represented by 8 inches
The three specified numbers are
2 inches
25 miles
8 inches
The comparisons are
2 inches to 25 miles →
8 inches to x miles →
Proportions involving ratios and rates are more readily solved by suspending the units while doing the computations.
In step 1, we let
represent the number of miles. So,
represents 100 miles.
If 2 inches represents 25 miles, then 8 inches represents 100 miles.
Try
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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