Question
The Marketing Department reckons that the supply function for Ethyl Alcohol is given by Q_x^S=5,000+2P_x-3P_y- P_w Where Pxis the price of ethyl alcohol, Prrepresents the
The Marketing Department reckons that the supply function for Ethyl Alcohol is given by
Q_x^S=5,000+2P_x-3P_y- P_w
Where Pxis the price of ethyl alcohol, Prrepresents the price of Isopropyl Alcohol, and Pwis the price of input used to produce ethanol. Given that the amount of ethyl alcohol sells at P40 per unit, isopropyl alcohol is sold for P35 per unit; and the price of inputs is P2,000. How much ethyl alcohol is produced?
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Environmental Economics
Authors: Barry Field, Martha K Field
5th Edition
0073375764, 9780073375762
