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Total Cost 10x3 + 25x7 +25x2 + 40x2 + 20x2 + 15x3 420

The document contains information about supply and demand curves for multiple goods (V1, V2, V3). It includes the following: - Supply and demand quantities and prices for each good. - Utility equations (U1, U2, U3) that represent consumer preferences for bundles of the goods. - Total cost equations for producing different bundles of the goods that are consumed. - The optimal solution that minimizes total cost is given as a set of production quantities that results in a total cost of 395.

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Hamid Farhan
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54 views1 page

Total Cost 10x3 + 25x7 +25x2 + 40x2 + 20x2 + 15x3 420

The document contains information about supply and demand curves for multiple goods (V1, V2, V3). It includes the following: - Supply and demand quantities and prices for each good. - Utility equations (U1, U2, U3) that represent consumer preferences for bundles of the goods. - Total cost equations for producing different bundles of the goods that are consumed. - The optimal solution that minimizes total cost is given as a set of production quantities that results in a total cost of 395.

Uploaded by

Hamid Farhan
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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V1=

C1

V2=
C2
3

40

U1=0

S1

10

U2=

S2

25

U3=

S3

25

60

40

Supply
7

Demand

V3=
C3

15

20
4

1
1
5

20

15

3
-

2
2
2

50
10

60
35

25

2
2
2

Total cost= 10x3 + 25x7 +25x2 + 40x2 + 20x2 + 15x3 = 420

V1= 3
C1
U1= 0

S1

10 +

U2= 4

S2

25 -

U3= -1

V2= 2
C2
3

40 -

V3= -2
C3
2

S3

15

V1= 3
C1

V2= 2
C2

V3= -1
C3

V4= 0

15

8
7

25

25
60

7
6

15

20
4

5
6

40

20

Supply
6

50

60

25

20

Demand

40

S2
1

60

35

S1

15

20

-1

25

Demand

U3= -1

S3

U2= 3

U1= 0

V4= -1

Supply
6

15

Total Cost = 35x3 + 25x2 + 15x2 + 25x5 + 20x2 + 15x3 = 395 (Optimal solution)

50
60

25

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