suppose that x is the average price of a new car and that y is the average price of a gallon of gasoline. Then q1, the number of new cars bought in a year, depends on both x and y, so q1=f(x,y). Similarly, if q2 is the quantity of gas bought in a year, then q2=g(x,y).

(a) what do you expect the signs of dq1/dx and dq2/dy to be. Explain.

(b) what do you expect the signs of dq1/dx and dq2/dx to be? Explain.

the d in the questions isnt really a d...its a weird sign that kinda looks like a d and im not sure what it is called...ill draw a picture below!

Question

suppose that x is the average price of a new car and that y is the average price of a gallon of gasoline. Then q1, the number of new cars bought in a year, depends on both x and y, so q1=f(x,y). Similarly, if q2 is the quantity of gas bought in a year, then q2=g(x,y).

(a) what do you expect the signs of dq1/dx and dq2/dy to be. Explain.

(b) what do you expect the signs of dq1/dx and dq2/dx to be? Explain.

the d in the questions isnt really a d...its a weird sign that kinda looks like a d and im not sure what it is called...ill draw a picture below!

megannicole51 · Answer

|dw:1386103240850:dw|

p0sitr0n · Answer

its called derivative. dq1 / dx > 0 means its increasing. < 0 means its decreasing. from your problem, it depends whether the price of a car decreases or increases. same goes for gas

megannicole51 · Answer

really?!?! thats what it means??!?! haha well i feel stupid! thank you

anonymous · Answer

more specifically partial derivative

megannicole51 · Answer

okay so how do i solve it?