Applications Of Derivatives

Given the consumption function and .
Step 1: Calculate Consumption (C) and Savings (S). Step 2: Calculate Average Propensities (APC and APS). Step 3: Calculate Marginal Propensities (MPC and MPS). First, find the derivative of the consumption function with respect to income. Now, evaluate MPC at . Final Answer: APC = 0.375, APS = 0.625, MPC = 0.675, MPS = 0.325.

Step 1: Recall the formula that relates marginal revenue ( ), average revenue ( ), and the elasticity of demand ( ). Step 2: Substitute the given values and into the formula. Step 3: Simplify the expression.

Let one part be then the other part will be .
Let the product be . We can define the function as . For extreme values . Now, . If .
function attains minimum at .
If .
function attains maximum at .
Two parts of 84 are and .