Question

Question 1: The demand function of two related goods is as follows; QX = a / PX2PY, (a> 0). Accordingly, find the cross-price elasticity of good x using the partial derivative and give information about the relationship between these goods based on the resulting elasticity value.

Question 2: Find the total derivative of dy / dz for the functions y = f (x, z) = 5x4-2z3 and x = g (z) = 7z6-3

The subject is (Introduction to Mathematical Economics)

please help me to solve these two questions and I thank you so much, professor

Answer 1

Q1. In this question, we have used the formula for cross elasticity which comes out to be (-)1. The negative sign implies that the goods are complements to each other and elasticity is unit elastic

Q2. This question uses simple use of derivatives for the answer which is