Answer:
a) attached below
b) stable equilibria = x = 0.1 , x = 0.8
unstable equilibria = other value except 0.1 , 0.8
c) 0.5 , 0.6
Explanation:
Benefit of using the local roads = 1 + 8x - 9x^2
Benefit of using the free way = 3.6
a) Attached below is the required graph
<u>b) Determine The possible equilibrium traffic patterns from the graph </u>
stable equilibria : x = 0.1 , x = 0.8 ( this id because at these given value the benefits of using either routes is equal )
unstable equilibria : every other value of X except 0.1 and 0.8
<u>c) Determine the value of x that maximizes the total benefit to the population</u>
The value of X that maximizes the total benefit to the population = 0.5 and 0.6
attached below is the detailed solution
Answer:
Price elasticity of demand Relation
Explanation:
The reason is that the price and demand are inversely proportional to each other. If the price of the product increases the demand of the product will decrease and vice versa. So this means that if the organization wants to generate maximum profit then it will have to set a price that generate maximum demand which means which generates maximum profit. The Bugatti is very expensive and the result is that very fewer people own it in the world but the Mercedes with an above average price has customers in millions, Honda has more than million customers because it is priced average. So the thing is that the pricing matters in deciding how much of the total customers you want.
Answer:
The answer is cost accounting system.
Explanation:
Cost accounting is a tool that allows you to estimate the actual price of the products, which allows you to establish a profit margin for each unit sold. Depending on the activity of the company, several techniques are used such as production costing, process costing, standard costing, absorption costing, etc.
