Marginal demand

[EllieJones]

Hello everyone, we literally solved the same problem in class and I'm doing everything that the professor does, but somehow I'm still stuck on this problem. Pearson's and my answers don't match at all! Can someone help?

 

[Deleted member 4993]

Hello everyone, we literally solved the same problem in class and I'm doing everything that the professor does, but somehow I'm still stuck on this problem. Pearson's and my answers don't match at all! Can someone help?


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I have not worked through the numbers yet - but in part (b) you have used P_B = 2. It should be 23.

P_B is reduced to 23 - not by 23. So you should use P_B = 23 (for part B).

What were the answers provided by Pearson?

 

[EllieJones]

I have not worked through the numbers yet - but in part (b) you have used P_B = 2. It should be 23.

P_B is reduced to 23 - not by 23. So you should use P_B = 23.

What were the answers provided by Pearson?

Yes they were but it says my part a is also wrong.

 

[JeffM]

Did you compute the partial derivatives? There are four. If so what did you get?

 

[EllieJones]

Did you compute the partial derivatives? There are four. If so what did you get?

I did not because like I said we solved the same problem only with different numbers in class and my steps are the exact steps that my professor did while doing the question.

 

[JeffM]

Well, it seems a bit strange to ask for the partial derivatives without knowing what they are. And I am a bit uncertain what you are trying to do even in your first line. You have written [MATH]9A[/MATH]. I think you probably mean [MATH]q_A[/MATH] Is that correct?

And then you calculate the demand, NOT THE MARGINAL DEMAND.

I have no idea what was done in class, but when the question asks for marginal demand and you calculate demand, you are pretty much guaranteed to get the wrong answer.