Posted by **Jon** on Tuesday, September 12, 2006 at 1:36am.

Suppose you have two products x and y. the actual production for a given period was 20 units of X and 250 of Y. What can you infer from this information.

The demand for Y is probably higher than the demand for X.

You can also generate many other mathematical models.

No

You cant infer anything about X and Y given that you only know the production levels. Now then, if you also knew, say, the prices of X and Y, or the costs of producing x and y, then you could say something.

## Answer this Question

## Related Questions

- algebra - A simple economy consists of two industries: agriculture and ...
- math - A simple economy consists of two industries: agriculture and ...
- Economics - A Cobb-Douglas production function for new company is given by &#...
- CALCULUS ECONOMICS - Consider an oligopolistic market with two firms. Each of ...
- CALCULUS ECONOMICS - Consider an economy in which a monopolistic firm serves two...
- managerial economics - 1. Calculate the demand elasticity of demand ( by using ...
- Calculus - As you know, Chemproc, Inc. is a premier manufacturer of chemicals ...
- Economics - B. Suppose there are two goods, Cloth and Food, and two factors of ...
- economics - suppose a competitive market consists of identical firms with a ...
- economics - Suppose a monopolist faces production function Q = 3KL and demand ...

More Related Questions