The function
gives the height
of a ball (in meters) thrown upward from the ground after
seconds. Suppose the ball was instead thrown from the top of a 10-m building. Relate this new height function
to
and then find a formula for
We just saw that the vertical shift is a change to the output, or outside, of the function. We will now look at how changes to input, on the inside of the function, change its graph and meaning. A shift to the input results in a movement of the graph of the function left or right in what is known as a
horizontal shift , shown in
[link] .
Horizontal shift of the function
Note that
shifts the graph to the left, that is, towards
negative values of
For example, if
then
is a new function. Each input is reduced by 2 prior to squaring the function. The result is that the graph is shifted 2 units to the right, because we would need to increase the prior input by 2 units to yield the same output value as given in
Horizontal shift
Given a function
a new function
where
is a constant, is a
horizontal shift of the function
If
is positive, the graph will shift right. If
is negative, the graph will shift left.
Adding a constant to an input
Returning to our building airflow example from
[link] , suppose that in autumn the facilities manager decides that the original venting plan starts too late, and wants to begin the entire venting program 2 hours earlier. Sketch a graph of the new function.
We can set
to be the original program and
to be the revised program.
In the new graph, at each time, the airflow is the same as the original function
was 2 hours later. For example, in the original function
the airflow starts to change at 8 a.m., whereas for the function
the airflow starts to change at 6 a.m. The comparable function values are
See
[link] . Notice also that the vents first opened to
at 10 a.m. under the original plan, while under the new plan the vents reach
at 8 a.m., so
In both cases, we see that, because
starts 2 hours sooner,
That means that the same output values are reached when
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
