1. It is known that the product-2 supply function is given by the function

Qd2 = 750 + 0.3p1-p2-0.5p3 + 0.001Y.

At this point it is known that p1 = 60, p2 = 10, = 100, Y = 10,000.

a. Calculate the Price Elasticity of Demand and the type of elasticity!

b. Calculate the Cross Elasticity of Demand and how is the relationship between product-1 and product-2 and the relationship between products-3 and products-2? Explain your answer!

c. Look for the Income Elasticity of Demand and the type of elasticity!

2.Given the production function: Q (C, L) = 0.5C + 12CL + 1.5L ^ 2 total reception function: TR (Q) = 150Q + 525 where C = 50 and L = 10. a. Compute the Marginal Physical Product of Capital. b. Calculate the Marginal Physical Product of Labor . c. Calculate the Marginal Revenue of the Product of Capital. d. Calculate the Marginal Revenue of the Product of Labor. e. Calculate the Marginal Rate of Technical Substitution. 3. Know the request function: total cost function: Q = 90-2P TC = 50 + 20Q a. Show that the total revenue function is given by the function TR = 45Q-0.5Q ^ 2 b.Determine the Marginal Revenue (MR) function, then calculate the marginal revenue value when the sum of output (Q) is equal to 10. c. Determine the profit function , then determine the level of output that will produce maximum profit. What is the maximum profit? . b. Determine the Marginal Revenue (MR) function, then calculate the marginal revenue value when the sum of output () is equal to 10. c. Determine the profit function (), then determine the level of output that will produce maximum profit. What is the maximum profit?