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October 24, 2014

Homework Help: economics

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.

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