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MTN 4:00 PM 0 2 2%

CLL MTN < Nick QUESTION TWO 4:00 PM Document.pdf @ 20/0@::::: ITota1 Marks = 251 A. For each of the following functions. (a) lind thc first and second derivatives where they exist, (b) whether the lunction is convex or concave. (ii) /(x) = 8 Marks A firms total cost curve is given by B. C. (i) (ii) (iii) (iv) TC = 24Q2 + 600Q Find an expression for AC in terms of Q Find an expression for MC in terms of Q Find Q, such that AC = MC When does the slope of AC = O? 10 Marks Let Tx, y) = 2x y + by f. Check whether fis concave, convex, or neither. Hint: l. is convex if and only if 0. 0, and fray (fxy)2 2 0. 2. is concave ifand only if fxx O, O, and fxxf, (fxy)2 0. 7 Marks [Total Marks = 251