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19) A firms demand function is P 60-0.5Q If fixed costs are 10 and variable costs are Q+3 per unit, find the maximum profit. A) 651.5 B) 19 C) 531.5 D) 21 E) 420 20) Which of the following could represent a function, fix, y), with first-order partial derivatives? 2 A) xyr2y+3) C) x2(ry2+3) D) none of these 21) Find the value of du at the point (-2, 1) for the function which is defined implicitly by A) 0.4 B) 0.5 C) 1.5 D) 2 E) 2.5 22) Find the value of the marginal rate of technical substitution for the production function 2 1 Q-300 K3L when K 40, L 60. A) B) C) 2 D) E)
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