Question: Can you please help me with this ? 1) By producing and selling Q units of some commodity a firm earns total revenue R(Q) =

Can you please help me with this ?

1) By producing and selling Q units of some commodity a firm earns total revenue R(Q) = -0.0015Q2 + 40Q And incurs cost C(Q) = 0.0006Q2 + 12Q + 60000 a) What production level Q* maximize profits? (2 points) ac b) What is the cost elasticity when Q = 800; interpret it (hint: Elg = >)? (2 points) 2) Consider the following function: z = e (*)In (xy) (a) Find -Z . (3 point) (b) Find the second-order Taylor expansion of the function around the following points: (0,0) and (1,1). Show your work. (3 point)

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