Let D= f(R,P) denote the demand for a commodity when the price is P and R is advertising commodity. (a) What sign should one expect the partial derivatives and to have? Please give an intuitive explanation.

Calculus For The Life Sciences
2nd Edition
ISBN:9780321964038
Author:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Publisher:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Chapter14: Discrete Dynamical Systems
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12.) Answer only part A

Let D= f(R,P) denote the demand for a commodity when the price is P and R is advertising commodity.
(a) What sign should one expect the partial derivatives and 3 to have? Please give an
intuitive explanation.
ƏR
(b) If the supply is S= g (P), equilibrium in the market requires that f (R,P) = g (P). What
is ? Find its mathematical expression and discuss its sign.
dR
Transcribed Image Text:Let D= f(R,P) denote the demand for a commodity when the price is P and R is advertising commodity. (a) What sign should one expect the partial derivatives and 3 to have? Please give an intuitive explanation. ƏR (b) If the supply is S= g (P), equilibrium in the market requires that f (R,P) = g (P). What is ? Find its mathematical expression and discuss its sign. dR
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