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Mathematics for Economics

Program Studi Magister Agribisnis


Fakultas Pertanian Universitas Riau
Matematika Ekonomi
Objectives of mathematics for
economists
To understand mathematical economics
problems by being able to state the unknowns,
the data and the conditions
To plan solutions to these problems by finding
a connection between the data and the
unknown
To carry out your plans for solving
mathematical economics problems
To examine the solutions to mathematical
economics problems for general insights into
current and future problems

Tujuan matematika untuk
ekonomi
Untuk memahami masalah matematika ekonomi
dengan mampu negara diketahui, data dan kondisi.
Untuk merencanakan solusi untuk masalah ini
dengan mencari hubungan antara data dan yang
tidak diketahui.
Untuk melaksanakan rencana Anda untuk
memecahkan masalah matematika ekonomi.
Untuk menguji solusi untuk masalah matematika
ekonomi untuk wawasan umum menjadi masalah
saat ini dan masa depan
Endogenous & Exogenous
Variables, constants, parameters
t = TR TC (identity)
Q
d
= Q
s
(equilibrium condition)

Y = a + bX
0
(behavioral equation)
Y: endogenous variable
X
0
:

exogenous variable
a: constant
b: parameter / the coefficient of exogenous
variable X
0

Variabel endogen dan eksogen,
konstanta, parameter

t = TR - TC (identitas)
Q
d
= Q
s
(kondisi ekuilibrium)
Y = a + bX
0
(persamaan perilaku)
Y: variabel endogen
X
0
: variabel eksogen
a: konstanta
b: Parameter / koefisien dari variabel
eksogen X0

FUNCTION IN ECONOMICS


FUNGSI DALAM EKONOMI

Functions and Relations
Function: a set or ordered pairs
with the property that for (x, y) any
x value uniquely determines a single
y value
Relation: ordered pairs with the
property that for (x, y) any x value
determines more than one value of
y

7

Fungsi dan Hubungan
Fungsi: satu set atau pasangan dipesan
dengan sifat bahwa untuk (x, y) setiap
nilai x secara unik menentukan nilai y
tunggal
Hubungan: memerintahkan pasangan
dengan properti yang untuk (x, y)
setiap nilai x menentukan lebih dari
satu nilai dari y
General Functions
Y = f (X)
Y is value or dependent variable
(vertical axis)
f is the function or a rule for mapping
X into a unique Y
X is argument or the independent
variable (horizontal axis)
9

Fungsi umum
Y = f (X)
Y adalah nilai atau variabel dependen
(sumbu vertikal)
f adalah fungsi atau aturan untuk
pemetaan X ke Y yang unik
X adalah argumen atau variabel
independen (sumbu horisontal)

Specific Functions
Algebraic functions
Y = a
0
(constant: fixed costs)
Y = a
0
+ a
1
X (linear: S&D)
Y = a
0
+ a
1
X + a
2
X
2
(quadratic: prod.)
Y = a
0
+ a
1
X + a
2
X
2
+ a
3
X
3
(cubic: t. cost)
Y = a/X (hyperbolic: indiff.)
Y = aX
b
(power: prod. fn)
lnY = ln(a) + b ln(X) (logarithmic: easier)

Transcendental functions
Y = a
X
(exponential: interest)

(Chiang & Wainwright, p. 22, Fig. 2.8)
11

Fungsi spesifik


fungsi aljabar
Y = a0 (konstan: biaya tetap)
Y = a0 + a1 X (linear: S & D)
Y = a0 + a1X + a2X2 (kuadrat: prod.)
Y = a0 + a1X + a2X2 + a3X3 (kubik: t. biaya)
Y = a / X (hiperbolik:. Indiff)
Y = axb (kekuatan:. Prod fn)
lnY = ln (a) + b ln (X) (logaritma: mudah)

fungsi transendental
Y = AX (eksponensial: bunga)

(Chiang & Wainwright, hal 22, Gambar. 2.8)

Digression on exponents
Rules for exponents
X
n
= (X*X*X*...*X) n times

Rule I: X
m
* X
n
= X
m+n

Rule II:

Rule III: X
-n
=
Rule IV: X
0
= 1

Rule V: X
1/n
=
n
\x
Rule VI: (X
m
)
n
= X
mn
Rule VII: X
m
* Y
m
= (XY)
m
n m
n
m
X
X
X

=
1
X
n
Levels of generality
Specific function 1:
specific form and specific parameters
Y = 10 - .5X

Specific function 2:
specific form and general parameters
Y = a bX

General function:
general form and no parameters
Y = f (X)
f maps X into a unique value of Y

Tingkat umum

Fungsi Khusus 1: bentuk khusus dan parameter yang
spesifik
Y = 10-0,5 X
Spesifik fungsi 2: bentuk khusus dan parameter
umum
Y = a bX
Umum fungsi: bentuk umum dan tidak ada
parameter
Y = f (X)
f peta X ke nilai unik Y

EQUATION IN ECONOMICS

PERSAMAAN DALAM EKONOMI
INTRODUCTION
An equation is a statement that two expressions are
equal to one another.
In economic modelling we express relationships are
equations and then use them to obtain analytical
result. Solving the equations gives us values for
which the equations are true.
We can express the condition for market equilibrium
as an equation in terms of price, P, solving the
equation for P tells us the price at which the market
is in equlibrium
PENDAHULUAN

Persamaan adalah suatu pernyataan bahwa dua ekspresi yang
sama satu sama lain.
Dalam pemodelan ekonomi kita menyatakan hubungan
persamaan dan kemudian menggunakannya untuk
mendapatkan hasil analisis. Memecahkan persamaan memberi
kita nilai-nilai yang persamaan benar.
Kita dapat mengungkapkan kondisi ekuilibrium pasar sebagai
sebuah persamaan dalam hal harga, P, memecahkan
persamaan untuk P memberitahu kita harga di mana pasar
berada dalam equlibrium

REWRITING AND SOLVING
EQUATIONS
When rewriting equation:
1. Add to or subtract from both sides.
2. Multiply or divide through the whole or each side (but dont
divide by 0).
3. Square or take the square root of each side.
4. Use as many stages as you wish.
5. Take care to get all the signs correct.

Example: Plot the equations y = -5 + 2x and y = 30 - 3x. At what
values of x and y do they cross ? Find also the algebraic solution by
setting the two expressions in x equal to one other.

We are asked to plot two linier functions, so plotting two points on
each then connecting them will suffice.
The table shows x value of 0 and 10 and the corresponding y values
for each line. These points are used to plot the lines shown in figure.
Notice that the line cross at x = 7, y = 9.

MENULIS DAN PEMECAHAN PERSAMAAN

Ketika menulis ulang persamaan:
1. Menambah atau mengurangi dari kedua belah pihak.
2. Mengalikan atau membagi melalui seluruh atau setiap sisi (tetapi tidak
membagi dengan 0).
3. Persegi atau mengambil akar kuadrat dari setiap sisi.
4. Digunakan sebagai banyak tahapan yang Anda inginkan.
5. Berhati-hatilah untuk mendapatkan semua tanda-tanda yang benar.

Contoh: Plot persamaan y = -5 + 2x dan y = 30 - 3x. Pada apa nilai-nilai dari x
dan y yang mereka salib? Temukan juga solusi aljabar dengan menetapkan dua
ekspresi di x sama dengan satu lainnya.

Kami diminta untuk merencanakan dua fungsi linier, sehingga merencanakan
dua titik pada masing-masing kemudian menghubungkan mereka akan cukup.
Tabel ini menunjukkan nilai x dari 0 dan 10 dan nilai y untuk setiap baris. Titik-
titik ini digunakan untuk merencanakan garis yang ditunjukkan dalam gambar.
Perhatikan bahwa garis salib di x = 7, y = 9.

-10
-5
0
5
10
15
20
25
30
35
0 2 4 6 8 10 12
X
Y
y=-5+2x
y=-30-3x
x 0 2 4 6 8 10 12
y=-5+2x -5 -1 3 7 11 15 19
y=30-3x 30 24 18 12 6 0 -6
For algebraic solution, the two y
value are equal so equate the
right hand sides of the
expressions and solve for x:
-5 + 2x = 30 3x
We want term in ix on the left-
hand side but not on the right, so
add 3x to both sides since -3x +
3x = 0. We then have:
-5 + 2x + 3x = 30 or
-5 + 5x = 30
To remove the constant term from
the left side we now add 5 to
each side, giving:
Lines intersect at (7, 9)
5x = 35
And so, dividing by 5, we have x = 7
We then find the value for y by substi
tuting x=7 in either of the equations.
Using y=30 3x gives:
y = 30 21 = 9
Which confirms the graphical result.
The solution is x = 7 and y = 9
Untuk solusi aljabar, nilai y kedua
adalah sama sehingga menyamakan
sisi tangan kanan dari ekspresi dan
memecahkan untuk x:
-5 + 2x = 30 - 3x
Kami ingin istilah dalam ix di sisi kiri
tapi tidak di sebelah kanan,
sehingga menambah 3x untuk
kedua belah pihak sejak-3x + 3x =
0. Kita kemudian memiliki:
-5 + 2x + 3x = 30 atau -5 + 5x =
30
Untuk menghapus istilah konstan
dari sisi kiri sekarang kita
tambahkan 5 untuk setiap sisi,
memberikan:

5x = 35
Dan, membaginya dengan 5,
kita memiliki x = 7
Kami kemudian menemukan
nilai y dengan x substi tuting =
7 di salah satu persamaan.
Menggunakan y = 30 - 3x
memberikan:
y = 30-21 = 9
Yang menegaskan hasil grafis.
Solusinya adalah x = 7 dan y =
9

-10
-5
0
5
10
15
20
25
30
35
0 2 4 6 8 10 12
X
Y
x 0 2 4 6 8 10 12
y=-5+2x -5 -1 3 7 11 15 19
y=30-3x 30 24 18 12 6 0 -6
SOLUTION IN TERMS OF OTHER
VARIABLES
Not all the equations you deal with have numerical solutions. Sometimes when
you solve and equation for x you obtain and expression containing other
variables.
Use same rules to transpose the equation.
Remember that in the solution x will not occur on the right-hand side and will be
on its own the left-hand side.
If you are given a relationship in the form y=f(x), rewriting the equation in the
form x=g(y) is called finding the inverse function.
To be able to find the inverse there must be just one x value corresponding to
each y value.
For non linier function there can be difficulties in finding an inverse, but we may
be able to do so for restricted set values.
The function y=x
2
has two x values (one positive and one negative)
corresponding to every y value, but if we consider the restricted function y=x
2
,
x>0 this function has the inverse x=\y.
For the linier functions often use in economic models inverse functions can
always be found. One reason for finding the inverse function can always be
found. One by y is conventionally plotted in economic on the horizontal axis.
Demand and supply equations provide examples of this.

SOLUSI DALAM KETENTUAN LAIN VARIABEL
Tidak semua persamaan Anda berurusan dengan memiliki solusi numerik. Kadang-kadang
ketika Anda memecahkan dan persamaan untuk x Anda mendapatkan dan ekspresi yang
mengandung variabel lain.
Menggunakan aturan yang sama untuk merefleksikan persamaan.
Ingat bahwa dalam larutan x tidak akan terjadi pada sisi kanan dan akan sendiri sisinya kiri-
tangan.
Jika Anda diberikan suatu hubungan dalam bentuk y = f (x), menulis ulang persamaan
dalam bentuk x = g (y) disebut fungsi invers menemukan.
Untuk dapat mencari invers harus ada hanya satu nilai x yang sesuai untuk setiap nilai y.
Untuk fungsi linier non bisa ada kesulitan dalam mencari invers, tetapi kita mungkin dapat
melakukannya untuk nilai-nilai yang ditetapkan dibatasi.
Fungsi y = x2 memiliki nilai-nilai x dua (satu positif dan satu negatif) yang sesuai untuk
setiap nilai y, tapi jika kita mempertimbangkan fungsi dibatasi y = X2, x> 0 Fungsi ini
memiliki invers x = y.
Untuk fungsi linier sering digunakan dalam model ekonomi fungsi invers selalu dapat
ditemukan. Salah satu alasan untuk menemukan fungsi invers selalu dapat ditemukan. Satu
demi y konvensional diplot dalam ekonomi pada sumbu horisontal.
Permintaan dan pasokan persamaan memberikan contoh ini.
Solve for x in term of z
x = 60 + 0.8x + 7z

At first glance you seem to already have a solution for x, but notice that
x occurs also on the right-hand side of the equation. We must collect
terms in x on the left-hand, so we subtract 0.8x from both sides and
obtain:
x - 0.8x = 60 + 7z
since both left-hand side terms contain x we may write:
(1 0.8)x = 60 + 7z
which gives
0.2x = 60 + 7z
To get x with a coefficient of 1 we divide both sides by 0.2 = 1/5,
which is the same thing as multiplying both sides by 5. This gives:
x = 300 + 35z

Selesaikan untuk x dalam jangka z
x = 60 + 0.8x + 7z

Pada pandangan pertama Anda tampaknya sudah memiliki
solusi untuk x, tapi perhatikan bahwa x juga terjadi pada sisi
kanan dari persamaan. Kita harus mengumpulkan istilah dalam
x di sisi kiri, jadi kita kurangi 0.8x dari kedua belah pihak dan
memperoleh:
x - 0.8x = 60 + 7z
karena kedua kiri sisi istilah mengandung x kita bisa menulis:
(1 - 0,8) x = 60 + 7z
yang memberikan
0.2x = 60 + 7z
Untuk mendapatkan x dengan koefisien 1 kita membagi kedua
sisi dengan 0,2 = 1 / 5, yang merupakan hal yang sama seperti
mengalikan kedua sisi dengan 5. Hal ini memberikan:
x = 300 + 35z

Given y = \x + 5, obtain an expression for x in term of y.

Begin by interchanging the side so that the sides with x is on the left of
the equation. We then have:
\x + 5 = y
Next subtract 5 from both sides, giving:
\x = y 5
To find x we must square both sides. This means that the whole of the
right-hand side is multiplied by itself, so use brackets. We obtain:
x = (y 5)
2
Squaring out the bracket we may also write:
x = y
2
10y + 25


Jika diketahui y = \x + 5, memperoleh ekspresi untuk x dalam jangka
y.

Mulailah dengan mempertukarkan sisi sehingga sisi dengan x adalah di
sebelah kiri dari persamaan. Kita kemudian memiliki:
\x + 5 = y
Selanjutnya kurangi 5 dari kedua belah pihak, memberikan:
\x = y - 5
Untuk menemukan x kita harus persegi kedua belah pihak. Ini berarti
bahwa seluruh sisi kanan dikalikan dengan sendirinya, jadi gunakan
tanda kurung. Kita memperoleh:
x = (y - 5) 2
Mengkuadratkan keluar braket kita juga dapat menulis:
x = y2 - 10Y + 25

SUBSTITUTION
When two expression are equal to one another, either can be
substituted for the other.
The technique is used the effect of the imposition of a per
unit tax on a good and to solve simultaneous equations.
When substituting, always be sure to substitute the whole of the
new expression and combine it with the other term in exactly
the same way the expression it replaces was combined with
them.
For example, if y = x
2
+ 6 and x = 30 - , find an expression
for y in term of . Substituting 30 - for x we obtain:
y = (30 - )
2
+ 6
which on multiplying out and collecting term becomes
y = 900 54 +
2
SUBSTITUSI
Ketika dua ekspresi yang sama satu dengan lainnya, dapat diganti untuk yang
lain.
Teknik ini digunakan efek dari pengenaan pajak per unit pada yang baik dan
untuk memecahkan persamaan simultan.
Ketika mengganti, selalu pastikan untuk menggantikan seluruh ekspresi baru
dan menggabungkan dengan istilah lainnya dengan cara yang persis sama
ungkapan itu menggantikan dikombinasikan dengan mereka.
Sebagai contoh, jika y = x2 + 6 dan x = 30 - , menemukan ekspresi untuk y
dalam jangka . Mengganti 30 - - untuk x kita mendapatkan:
y = (30 - )
2
+ 6
yang pada keluar dan mengumpulkan mengalikan panjang menjadi y = 900
54 +
2

DEMAND AND SUPPLY
Demand and supply function in economics express
the quantity demanded or supplied as a function of
price, Q = f (P).
According to mathematical convention the dependent
variable (Q) should be plotted on the vertical axis.
Economic analysis, however, use the horizontal axis
as the Q and for consistency we follow that
approach. So that we can determine the points on
graph in the usual way, before plotting a demand or
supply function we first find its inverse function
giving P as a function of Q.
PERMINTAAN DAN PENAWARAN
Permintaan dan fungsi penawaran dalam ekonomi
mengekspresikan kuantitas yang diminta atau
diberikan sebagai fungsi dari harga, Q = f (P).
Menurut konvensi matematika variabel dependen (Q)
harus diplot pada sumbu vertikal.
Analisis ekonomi, bagaimanapun, menggunakan
sumbu horizontal sebagai Q dan untuk konsistensi
kita mengikuti pendekatan itu. Sehingga kita dapat
menentukan titik-titik pada grafik dengan cara yang
biasa, sebelum merencanakan fungsi permintaan
atau penawaran pertama kita menemukan fungsi
invers P memberikan sebagai fungsi dari Q.
Find the inverse function for the demand equation Q = 80 2P and
sketch the demand curve.

Adding 2P to both sides of the demand equation we get
2P + Q = 80
Subtracting Q from both sides we obtain:
2P = 80 Q
Dividing each side by 2 gives the inverse function
P = (80 Q)/2 = 40 (Q/2)
The demand function is linier, so it suffices to plot two point. Selected
values of Q are shown in the table together with corresponding value for
P.
Q 0 20 40 60 80
P = 40 - (Q/2) 40 30 20 10 0
0
5
10
15
20
25
30
35
40
45
0 20 40 60 80
Q
P
Cari fungsi invers untuk persamaan permintaan Q = 80 - 2P dan
sketsa kurva permintaan.

Menambahkan 2P kedua sisi persamaan permintaan kita
2P + Q = 80
Mengurangkan Q dari kedua sisi kita memperoleh:
2P = 80 - Q
Membagi setiap sisi oleh 2 memberikan fungsi invers
P = (80 - T) / 2 = 40 - (Q / 2)
Fungsi permintaan linier, sehingga cukup untuk plot dua titik. Nilai
yang dipilih Q ditunjukkan dalam tabel bersama-sama dengan nilai
yang sesuai untuk P.
Q 0 20 40 60 80
P = 40 - (Q/2) 40 30 20 10 0
0
5
10
15
20
25
30
35
40
45
0 20 40 60 80
Q
P
MARKET EQULIBRIUM
Market equilibrium occurs when the quantity supplied equals the
quantity demanded of a good.
The supply and demand curves cross at the equilibrium price
and quantity.
If you plot both the demanded and supply curves you can of
approximate equilibrium values from the graph.
Another approach is to solve algebraically for the point where
the demand and supply equation are equal. This gives exact
value. Suppose we wish to find the equilibrium price and
quantity when demand is given by
Demand: Q = 96 4P
And the supply equation is
Supply : Q = 8P

PASAR EKUILIBRIUM

Ekuilibrium pasar terjadi ketika kuantitas yang ditawarkan sama
dengan kuantitas yang diminta dari yang baik.
Kurva penawaran dan permintaan silang pada harga
keseimbangan dan kuantitas.
Jika Anda plot kedua kurva penawaran menuntut dan Anda
dapat nilai ekuilibrium perkiraan dari grafik.
Pendekatan lain adalah untuk memecahkan aljabar untuk titik di
mana permintaan dan persamaan penawaran adalah sama. Hal
ini memberikan nilai yang tepat. Misalkan kita ingin mencari
harga keseimbangan dan kuantitas ketika permintaan diberikan
oleh
Permintaan: Q = 96 - 4P
Dan persamaan pasokan
Supply: Q = 8P

For an algebraic solution we can use the equation in this form. Since in
equilibrium then quantity supplied equals the quantity demanded, the
right-hand side of the supply equation must equal the right-hand side of
the demand equation. This gives an equation in P:
Supply Q = Demand Q (in equilibrium), so
8P = 96 4P
Adding 4P to both sides gives
12P = 96
Dividing by 12 we find P = 8 which is the equilibrium price. We can then
substitute this into either equation, say the equation. This gives:
Q = 8 x 8 = 64
Which is the quantity supplied in equilibrium and therefore also the
quantity demanded. Market equilibrium occurs at Q = 64, P = 8.
Untuk solusi aljabar kita dapat menggunakan persamaan dalam bentuk ini.
Sejak dalam kesetimbangan maka kuantitas yang ditawarkan sama dengan
kuantitas yang diminta, sisi kanan persamaan harus sama dengan pasokan
sisi kanan dari persamaan permintaan. Ini memberikan persamaan dalam
P:
Pasokan Q = Q Permintaan (dalam kesetimbangan), sehingga
8P = 96 - 4P
Menambahkan 4P untuk kedua belah pihak memberikan
12p = 96
Membaginya dengan 12 kita menemukan P = 8 yang merupakan harga
ekuilibrium. Kami kemudian dapat menggantikan ini ke dalam persamaan
baik, katakan persamaan. Hal ini memberikan:
Q = 8 x 8 = 64
Yang merupakan kuantitas yang ditawarkan dalam kesetimbangan dan
karena itu juga kuantitas yang diminta. Ekuilibrium pasar terjadi di Q = 64,
P = 8.
Tugas 1A
Rewriting these equations expressing P as
a function of Q then plot them on a graph
Supply : Q = 4P
Demand : Q = 280 10P
Menulis ulang persamaan ini menyatakan P sebagai fungsi dari Q
kemudian plot mereka pada grafik
Supply : Q = 4P
Demand : Q = 280 10P

TOTAL AND AVERAGE REVENUE
Total revenue (TR) is price (P) multiplied by quantity (Q)
TR = P . Q
Average revenue (AR) per unit of output is TR + Q = P
AR = TR/Q
A market demand curve is assumed to be downward
sloping.
JUMLAH PENDAPATAN DAN RATA-RATA
Total pendapatan (TR) adalah harga (P)
dikalikan dengan kuantitas (Q)
TR = P. Q
Pendapatan rata-rata (AR) per unit output
adalah TR = P + Q
AR = TR / Q
Kurva permintaan pasar dianggap miring ke
bawah.
If average revenue is given by:
P = 72 3Q
Sketch this function and also, on a separate graph, the total revenue function.
The average revenue function has P on the vertical axis and Q on the
horizontal axis. The general form of linier function is y = a + bx.
Comparing our average revenue function we see that it take this linier form
with y = P, a = 72, b = -3 and x = Q. We therefore need find only two
points on our function to sketch the line and can the extend it as required.
For simplicity we choose Q = 0 and Q = 10. The corresponding P values
are listed, the two points are plotted and the line is extended to the
horizontal axis.
Chosen value Q = 0 and Q = 10
substituting in P = 72 3(0) = 72 and P = 72 3(10)= 42




0
10
20
30
40
50
60
70
80
0 2 4 6 8
1
0
1
2
1
4
1
6
1
8
2
0
2
2
2
4
Q
P
AR = 72-3Q
Jika pendapatan rata-rata diberikan oleh:
P = 72 - 3Q
Sketsa fungsi ini dan juga, pada grafik yang terpisah, fungsi total
pendapatan.
Fungsi pendapatan rata-rata memiliki P pada sumbu vertikal dan Q
pada sumbu horizontal. Bentuk umum dari fungsi linier adalah y = a +
bx. Membandingkan fungsi pendapatan rata-rata kita, kita melihat
bahwa mengambil bentuk linier dengan y = P, a= 72, b = -3 dan x =
Q. Karena itu kita perlu menemukan hanya dua titik pada fungsi kita
untuk membuat sketsa garis dan dapat memperpanjang itu seperti
yang diperlukan. Untuk kesederhanaan kita memilih Q = 0 dan Q = 10.
P yang sesuai nilai-nilai yang terdaftar, dua poin diplot dan garis ini
diperpanjang untuk sumbu horisontal.
Dipilih nilai Q = 0 dan Q = 10
mengganti dalam P = 72 - 3 (0) = 72 dan P = 72 - 3 (10) = 42
0
10
20
30
40
50
60
70
80
0 2 4 6 8
1
0
1
2
1
4
1
6
1
8
2
0
2
2
2
4
Q
P
0
50
100
150
200
250
300
350
400
450
500
0 2 4 6 8 10 12 14 16 18 20 22 24
Q
T
R
We next find and expression for TR:
TR = P . Q = (72 3Q) . Q = 72Q 3Q
2

so,


Q 0 2 4 6 8 10 12 14 16 18 20 22 24
72Q 0 144 288 432 576 720 864 1,008 1,152 1,296 1,440 1,584 1,728
3Q^2 0 12 48 108 192 300 432 588 768 972 1,200 1,452 1,728
TR 0 132 240 324 384 420 432 420 384 324 240 132 -
TR = 72Q 3Q
2
Kami selanjutnya mencari dan ekspresi
untuk TR:
TR = P. Q = (72 - 3Q). Q = 72Q - 3Q2
demikian,
TOTAL AND AVERAGE COST
A firms total cost of production (TC) depends on its output (Q).
The TC function may include a constant term, which represent
fixed cost (FC).
The part of total cost that varies with Q is called variable cost
(VC).
We have, then, that TC = FC + VC
Remember: FC is the constant term in TC
VC = TC FC
AC = TC/Q
AVC = VC/Q

TOTAL RATA-RATA DAN BIAYA
Total biaya sebuah perusahaan produksi (TC)
tergantung pada output (Q).
Fungsi TC mungkin termasuk istilah konstan, yang
merupakan biaya tetap (FC).
Bagian dari total biaya yang bervariasi dengan Q
disebut biaya variabel (VC).
Kami memiliki, kemudian, bahwa TC = FC + VC
Ingat: FC adalah istilah konstan dalam TC
VC = TC - FC
AC = TC / Q
AVC = VC / Q

For a firm with total cost given by: TC = 120 + 45Q Q
2
+ 0.4Q
3

Identify it AC, FC, VC and AVC functions. List some values of TC and AC,
correct to the nearest integer. Sketch the total cost function and on a
separate graph the AC function.
TC = 120 + 45Q - Q
2
+ 0.4Q
3
AC = TC/Q = 120/Q + 45 Q + 0.4Q
2

FC = 120 (the constant term in TC)
VC = TC FC = (120 + 45Q - Q
2
+ 0.4Q
3
) (120) = 45Q - Q
2
+ 0.4Q
3

AVC= VC/Q = (45Q - Q
2
+ 0.4Q
3
) / Q = 45 Q + 0.4Q
2




Q 0.00 0.30 1.00 3.00 5.00 8.00 10.00 12.00 15.00
45Q 0.00 13.50 45.00 135.00 225.00 360.00 450.00 540.00 675.00
Q^2 0.00 0.09 1.00 9.00 25.00 64.00 100.00 144.00 225.00
0.4Q^3 0.00 0.01 0.40 10.80 50.00 204.80 400.00 691.20 1350.00
TC 120 133 164 257 370 621 870 1207 1920
AC 445 164 86 74 78 87 101 128
Untuk perusahaan dengan total biaya yang diberikan
oleh: TC = 120 + 45Q - Q2 + 0.4Q3
Identifikasi itu AC, FC, VC dan fungsi AVC. Daftar
beberapa nilai dari TC dan AC, benar ke integer
terdekat. Sketsa fungsi biaya total dan pada grafik
memisahkan fungsi AC.
TC = 120 + 45Q - Q2 + 0.4Q3
AC = TC / Q = 120 / Q + 45 - Q + 0.4Q2
FC = 120 (istilah konstan dalam TC)
VC = TC - FC = (120 + 45Q - Q2 + 0.4Q3) - (120) =
45Q - Q2 + 0.4Q3
AVC = VC / Q = (45Q - Q2 + 0.4Q3) / Q = 45 - Q +
0.4Q2
TC = 120 + 45Q Q
2
+ 0.4Q
3
AC = 120/Q + 45 Q + 0.4 Q
2
0
500
1000
1500
2000
2500
0 0.30 1.00 3.00 5.00 8.00 10.00 12.00 15.00
Q
T
C
0
150
300
450
0 0.30 1.00 3.00 5.00 8.00 10.00 12.00
Q
A
C
PROFIT
Profit is difference between a firms total revenue and its total
costs.
Using the symbol t as the variable name for profit we have
t = TR TC

A firm has the total cost function: TC = 120 + 45Q Q
2
+ 0.4Q
3
And faces a demand curve given by: P = 240 20Q
What is its profit function ?

TR = P . Q = (240 20Q) . Q = 240Q 20Q
2
t = TR TC
= (240Q 20Q
2
) (120 + 45Q Q
2
+ 0.4Q
3
)
= -120 + 195Q 19Q
2
0.4Q
3

LABA
Profit is difference between a firms total revenue and its total
costs.
Using the symbol t as the variable name for profit we have
t = TR TC

A firm has the total cost function: TC = 120 + 45Q Q
2
+ 0.4Q
3
And faces a demand curve given by: P = 240 20Q
What is its profit function ?

TR = P . Q = (240 20Q) . Q = 240Q 20Q
2
t = TR TC
= (240Q 20Q
2
) (120 + 45Q Q
2
+ 0.4Q
3
)
= -120 + 195Q 19Q
2
0.4Q
3


PRODUCTION FUNCTIONS, ISOQUANTS AND
THE AVERAGE PRODUCTS OF LABOUR
The long run production function shows that a firms output (Q),
depends on the amount of factors it employs (always assuming
that whatever factor are employed are used efficiently)
If a production process involves the use of labour (L) and
capital (K), we write Q = f (L, K)
The dependent variable Q is function of two independent
variables, L and K.
Average product of labour (APL) = Q + L

FUNGSI PRODUKSI, isokuan DAN PRODUK RATA-RATA
DARI BURUH

Fungsi produksi jangka panjang menunjukkan bahwa
output perusahaan (Q), tergantung pada jumlah
faktor yang mempekerjakan (selalu dengan asumsi
bahwa faktor apa pun yang dipekerjakan digunakan
secara efisien)
Jika proses produksi melibatkan penggunaan tenaga
kerja (L) dan modal (K), kita menulis Q = f (L, K)
Variabel dependen Q adalah fungsi dari dua variabel
independen, L dan K.
Produk rata-rata tenaga kerja (APL) = Q + L
A firm has the production function Q = 25 (L . K)
2
0.4(L . K)
3
. If K = 1,
find the value of Q for L = 2, 3, 4, 6, 12, 14 and 16. Sketch this short
run production function putting L and Q on the axes of your graph. Next
suppose the value of K is increased to 2. On the same graph sketch the
new short run production function for the same values of L. Add one
further production function to your sketch, corresponding to K = 3,
using the same L values again.
For the short run production function with K = 3, find and plot the
average product of labour function.
K\L 2 3 4 6 12 14 16
1 96.8 214.2 374.4 813.6 2,908.8 3,802.4 4,761.6
2 374.4 813.6 1,395.2 2,908.8 8,870.4 10,819.2 12,492.8
3 813.6 1,733.4 2,908.8 5,767.2 13,737.6 14,464.8 13,363.2

Sebuah perusahaan memiliki fungsi produksi Q = 25 (L K.) 2 -
0,4 (L K.) 3. Jika K = 1, menemukan nilai Q untuk L, = 2 3, 4,
6, 12, 14 dan 16. Sketsa ini fungsi produksi jangka pendek
meletakkan L dan Q pada sumbu grafik Anda. Selanjutnya
misalkan nilai K meningkat menjadi 2. Pada sketsa grafik yang
sama menjalankan fungsi baru produksi pendek untuk nilai yang
sama L. Tambahkan satu fungsi produksi lebih lanjut untuk
sketsa Anda, sesuai dengan K = 3, menggunakan nilai L yang
sama lagi.
Untuk fungsi produksi jangka pendek dengan K = 3,
menemukan dan produk rata-rata plot fungsi tenaga kerja.

K\L 2 3 4 6 12 14 16
1 96.8 214.2 374.4 813.6 2,908.8 3,802.4 4,761.6
2 374.4 813.6 1,395.2 2,908.8 8,870.4 10,819.2 12,492.8
3 813.6 1,733.4 2,908.8 5,767.2 13,737.6 14,464.8 13,363.2
0
200
400
600
800
1000
1200
1400
2 3 4 6 8 10 12 16
L
A
P
L
The average product of labour function
-
2,000.0
4,000.0
6,000.0
8,000.0
10,000.0
12,000.0
14,000.0
16,000.0
2 3 4 6 12 14 16
L
Q
For K = 3, we have:
Q = 25(3L)
2
0.4(3L)
3

= 225L
2
10.8L
3

APL = Q/L = 225L 10.8L
2
L 2 3 4 6 8 10 12 16
APL 406.8 577.8 727.2 961.2 1108.8 1170 1144.8 835.2
APL=225L 10.8L
2
Tugas 1B
1. Sketch the total cost function: TC = 300 + 40Q 10Q
2
+ Q
3
,
write expressions for AC, FC, VC and AVC !
2. If the firm in question 1 faces the demand curve
P = 100 0.5Q
Find an expression for the firms profit function and sketch
the curve !
3. A firm in perfect competition sells it output at a price Rp
12.000. Plot it total revenue function (TR) = 12Q !
1. Sketsa fungsi biaya total: TC = 300 + 40Q - 10Q2 + Q3, menuliskan
ekspresi untuk AC, FC, VC dan AVC!
2. Jika perusahaan dalam pertanyaan 1 menghadapi kurva permintaan
P = 100 - 0.5Q
Menemukan ekspresi untuk fungsi keuntungan perusahaan dan
sketsa
kurva!
3. Sebuah perusahaan dalam persaingan sempurna menjualnya output
pada harga Rp 12.000. Plot itu fungsi total pendapatan (TR) = 12Q!
EFFECT OF A PER UNIT TAX
The information contained in the supply equation about how
much producers will supply is based on the prices that they
receive.
If a per unit tax (t) is imposed, although buyers still pay P for
each unit of the good, the suppliers receive only P t.
The difference between the price paid and the price received is
the per unit tax (t), which is paid to the government.
A per unit tax therefore change the supply equation and causes
the supply curve to shift.
Whatever the form in which the supply equation is written, we
can alter it to incorporate a per unit tax by writing P t in place
of P wherever it occurs.

PENGARUH PAJAK UNIT PER Sebuah

Informasi yang terkandung dalam persamaan penawaran
tentang berapa banyak produsen akan memasok didasarkan
pada harga yang mereka terima.
Jika pajak per unit (t) dikenakan, meskipun pembeli tetap
membayar P untuk setiap unit yang baik, para pemasok hanya
menerima P - t.
Perbedaan antara harga yang dibayarkan dan harga yang
diterima adalah pajak per unit (t), yang dibayar kepada
pemerintah.
Pajak per unit sehingga mengubah persamaan penawaran dan
menyebabkan kurva penawaran bergeser.
Apapun bentuk di mana persamaan penawaran ditulis, kita bisa
mengubahnya untuk memasukkan pajak per unit dengan
menulis P - t di tempat P mana pun itu terjadi.
For example, if when there is no tax the supply equation is given by
Q = -3 + 4P
then when a per unit tax of t is imposed the supply equation becomes
Q = -3 + 4(P t)
We rewrite them expressing P as a function of Q. The original supply
equation becomes:
P = Q/4 +
Writing P t for P in the equation, the post tax equation is
P t = Q/4 +
Adding t to both sides this becomes:
P = Q/4 + 3/4 + t
The post tax values for P are t more than the original one, so when we
plot the two supply equation with P on the vertical axis the post tax
curve is higher by the amount of the tax.
Sebagai contoh, jika ketika ada pajak ada persamaan penawaran
diberikan oleh
Q = -3 + 4P
maka ketika pajak per unit t dikenakan persamaan penawaran menjadi
Q = -3 + 4 (P - t)
Kami menulis ulang mereka mengekspresikan P sebagai fungsi dari Q.
pasokan asli
persamaan menjadi:
P = Q / 4 +
Menulis P - t untuk P dalam persamaan, persamaan pajak pos
P - t = Q / 4 +
Menambahkan t untuk kedua sisi ini menjadi:
P = Q / 4 + 3 / 4 + t
Nilai pajak posting untuk P adalah t lebih dari yang asli, jadi ketika kita
merencanakan persamaan penawaran dua dengan P pada sumbu vertikal
kurva pajak pos lebih tinggi dengan jumlah pajak.
If demand and supply in a market are described by the equation below, solve algebraically
to find equilibrium P and Q.
Demand : Q = 120 8P
Supply : Q = -6 + 4P
If now a per unit tax 4.5 impose, show the equilibrium solution changes. How is the tax
shared between producers and consumers ? Sketch a graph showing what changes ensue
when the tax is imposed ?
In equilibrium Supply Q = Demand Q
So equating the right-hand sides of the equation gives:
-6 + 4P = 120 8P
Adding 8P + 6 to each side we have: 12P = 126
Dividing by 12 gives: P = 10.5
Substituting in the supply equation gives: Q = -6 + 4(10.5) = 36
The equilibrium values are P = 10.5 and Q = 36
When a tax of 4.5 is imposed the supply curve becomes:
Supply: Q = -6 + 4(P 4.5) = -24 + 4P
In equilibrium this new quantity supplied equal the quantity demanded, giving:
-24 + 4P = 120 8P
Adding 8P + 24 to each sides gives: 12P = 144
and so dividing by 12 we find : P = 144/12 = 12
From the new supply equation we obtain: Q = -24 + (4 x 12) = 24


Jika permintaan dan penawaran di pasar dijelaskan oleh persamaan di
bawah ini, memecahkan aljabar untuk menemukan keseimbangan P dan Q.
Permintaan: Q = 120 - 8P
Supply: Q = -6 + 4P
Jika sekarang pajak per unit 4,5 memaksakan, menunjukkan perubahan
ekuilibrium solusi. Bagaimana pajak dibagi antara produsen dan konsumen?
Sketsa grafik yang menunjukkan perubahan apa yang terjadi ketika pajak
dikenakan?
Dalam ekuilibrium Pasokan Q = Q Permintaan
Jadi menyamakan ruas kanan dari persamaan memberikan:
-6 + 4P = 120 - 8P
Menambahkan 8P + 6 untuk setiap sisi kita memiliki: 12p = 126
Membaginya dengan 12 memberikan: P = 10,5
Dengan mensubstitusikan persamaan penawaran dalam memberikan: Q = -
6 + 4 (10,5) = 36
Nilai-nilai ekuilibrium adalah P = 10,5 dan Q = 36
Ketika pajak sebesar 4,5 dikenakan kurva penawaran menjadi:
Supply: Q = -6 + 4 (P - 4.5) = -24 + 4P
Dalam keseimbangan ini kuantitas baru diberikan sama kuantitas yang
diminta, memberikan:
-24 + 4P = 120 - 8P
Menambahkan 8P + 24 untuk setiap sisi memberikan: 12p = 144
dan membaginya dengan 12 kita menemukan: P = 144 / 12 = 12
Dari persamaan penawaran baru kita mendapatkan: Q = -24 + (4 x 12) =
24

0
2
4
6
8
10
12
14
16
18
20
0 12 24 36 48
Q
P
The equilibrium values are P= 12 and Q= 24. Although the tax is 4.5, price
has risen by only 12 10.5 = 1.5.
On third of the tax has been passed on to consumers as a price increase, but
the remainder has been absorbed by the producers.
The quantity traded has fallen from 36 to 24.
To plot the curves we write the inverse function expressing P in term of Q.
We find:
Demand, D: P = 15 Q/8
Original Supply, S : P = 3/2 + Q/4
Supply after tax, S : P = 3/2 + Q/4 + 4.5 = 6 + Q/4


S
2
P= 6 + Q/4
S
1
P= 3/2 + Q/4
D P= 15 Q/8
Price changes = 1.5
COST VOLUME PROFIT ANALYSIS
Cost volume profit analysis is a method use by accountants to
estimate the desired sales level in order to achieve a target level of
profit.
Two simplifying assumptions are made: namely that price and average
variable cost are both fixed.
t = TR TC ,
TR = P . Q
TC = FC + VC
AVC = VC/Q
Substituting in the profit function for TR and TC
t = P . Q - (FC + VC) = P . Q FC VC
Multiplying both sides of the expression for AVC by Q we obtain
AVC . Q = VC
So we may substitute for VC in the profit equation and get
t = P. Q FC AVC . Q
Adding FC to both sides gives:
t + FC = P . Q - AVC . Q
Interchanging the sides we obtain: P . Q AVC . Q = t + FC
Q is a factor of both term on the left so we may write:
Q(P AVC) = t + FC
Q = (t + FC) / (P AVC)
If the firm accountant can estimate FC, P and AVC, substituting these
together with the target level of profit (t), gives the desired sales level.
For a firm with fixed cost of 555, average variable cost of 12 and selling
at a price of 17, find an expression for profit in terms of its level of
sales, Q. What value should Q be to achieve the profit target of 195 ?
At what sales level does this firm break even ? Illustrate your algebraic
analysis with diagram.
t = TR TC = P . Q FC VC
writing VC = AVC . Q gives: t = P . Q FC AVC . Q
Substituting cost and price we find: t = 17Q 555 12Q
So t = 5Q 555
Which is the required expression for profit. Rewriting this to give Q in
term of t add 555 to both sides so:
t + 555 = 5Q,
interchanging the sides gives: 5Q = t + 555
and dividing by 5 we have : Q = (t + 555) / 5
Substituting the profit target of 195 gives:
Q = (195 + 555)/5 = 150
For the break even value of Q we substitute instead t = 0, so
Q = (555/5) = 111
0
100
200
300
400
500
600
700
800
0 25 50 75
LINIER EQUATION
0
2
4
6
8
10
12
14
16
18
20
0 5 10 15
A horizontal line has zero slope
As x increases, y does not
change
Slope = 0
Slope = Ay/Ax = (distance up)/(distance to right)
Y = 18
As x increases,
y increases
y = 9x
Slope = 9
Line passes
through the origin
Positive slope, intercept at zero
0
500
1000
1500
2000
2500
3000
3500
4000
0 50 100 150 200
Q
U
S
$
Break even where TR = TC
Target Profit
Cost Volume Profit Analysis
-30
-20
-10
0
10
20
30
40
50
60
70
0 10 20 30
X
Y
0
10
20
30
40
50
60
0 5 10
X
Y
Slope= -4
Larges x value go with
smaller y value
Y=50-4x
As x increases,
y increases
Slope= 3
Line cuts y axis below the origin
Negative slope, positive intercept Positive slope, negative intercept
0
10
20
30
40
50
60
0 5 10 15 20
X
Y
Y increases but x does not change
Slope=
A vertical line has infinite slope
QUADRATIC EQUATION
In economic modelling we work with the simples function that can
adequately represent a relationship, but sometimes a curve rather than
a straight line is required.
We used quadratic functions to represent total revenue and average
variable cost
General form : y = ax
2
+ bx + c
where a, b, and c are constants. When you sketch a quadratic function
you find it has either a hill or U shape and that generally two values of
x give the same value of y.
A quadratic function has a term in x2 but no higher powers of x.
A quadratic equation you can solve it graphically or sometimes by
factorizing it or by using the formula.
We first write it in the form ax
2
+ bx +c = 0. The value(s) of
x for which this equation is true can be found graphically by plotting
y= ax
2
+ bx + c and looking y = 0.
Algebraic methods are more accurate than graphical ones, but the
squared term means we need a special technique. Sometimes factori-
zing the expression helps. Consider for example:
5x
2
- 20x = 0
Since each term is divisible by 5x we can factorize the left hand side
and write: 5x(x-4) = 0
There are now two term multiplied together, 5x and (x-4). For their
product to be 0, one of term must be zero. This mean either 5x = 0 or
(x-4) =0.
If 5x = 0, dividing by 5 we find that x = 0 and this one possible
solution to the equation.
If x 4 = 0, adding 4 to both sides we find that x = 4, which is the
other possible solution.
The graph of the function is plotted It also shows that x = 0 and x
= 4 are two solutions to the equation, since they are the values of x at
which at which the curve cuts the x axis

-50
0
50
100
150
200
250
300
350
-6 -5 -4 -3 -2 -1 0 1 2 3 4 5 6 7 8 9 10
Y = 5x
2
20x
A more general method for solving the quadratic equation ax2+bx
+c =0 uses a formula:

-b \b
2
4ac
x = -------------------
2a
Where a is the coefficient of x
2
, b is the coefficient of x and c is the
constant term.
Example: 8x
2
20x + 3 = 0
We identify a= 8, b= -20 and c= 3. Notice that the sign of the
coefficient must be included. Begin the calculating the expression the
square root sign. This gives:
b
2
4ac = (-20)
2
(4 . 8 . 3) = 400 96 = 304
We take the square root of this value and obtain 17.436. substituting
this result , -b and a into the formula gives: 20 17.436
x = --------------
16
x = 37.436/16= 2.34 or x = 2.564/16 = 0.16
The solution of the equation is x = 2.34 or 0.16.
INTERSECTION OF MC WITH MR OR AVC
Quadratic equation arise in economics when we want to
discover where a quadratic function, say marginal cost, cuts
another quadratic function, say average variable cost, or cuts a
linier function, say marginal revenue.
We equate the two functional expressions, then subtract the
right hand side from both sides so that the value on the right
becomes zero.
After collecting term we solve the quadratic equation using one
of the methods explained above.
A firm has the marginal cost function MC = 3Q
2
32Q + 96 and
marginal revenue function MR = 236 16Q. Find the firms
profit maximizing output.
To maximize profits the firm chooses to produce where marginal cost equals
marginal revenue. Equating the MC and MR functions we have that:
3Q
2
32Q + 96 = 236 16Q
Subtracting the right hand side from both sides gives:
3Q
2
32Q + 96 (236 16Q) = 0
Removing the bracket gives
3Q
2
32Q + 96 236 + 16Q =0
And by collecting term we obtain:
3Q
2
16Q 140 = 0 -b \b2 4ac
We now use the formula for solving a quadratic equation: x = -----------------
2a
where a= 3, b= -16, and c = -140. Calculating the expression within the
square root sign gives: b
2
4ac = (-16)2 (4 . 3. -140) = 256 + 1680 = 1936.
\1936 = 44. We have them:
x = (1644) / (2 . 3) = 60/6 or -28/6
So x = 10 or x = -4.67. Only the positive value is economically meaningful, so
profit maximization occurs when x = 10.

SIMULTANEOUS EQUATIONS
When economists model how market operate, they often use
different equations to represent different aspects of the market.
For market equilibrium, they values of the variables are such
that are true simultaneously.
Quantity demanded and quantity supplied are function pf price
(P). In equilibrium these quantities are equal.
To solve for equilibrium values, we equate the two expression in
P, thus eliminating Q. We obtain an equation which we can
solve for P.
Another method of eliminating a variable is to subtract (or add)
the left hand sides and the right hand sides of a pair of
equations.
Solve the simultaneous equation 2x + 4y = 20 and 3x + 5y = 28
For ease of reference we number the equation
2x + 4y = 20 .. (1)
3x + 5y = 28 (2)
we choose the variable to be eliminated, say x. We need to get x with the same
coefficient in both equation. Using xs coefficient in the other equation, we
multiply through equation (1) by 3 and equation (2) by 2. This give:
6x + 12y = 60 (3)
6x + 10y = 56 .. (4)
Now that x has a coefficient of 6 in both equations we subtract the
corresponding sides of equations (3) and (4). We obtain:
0 + 2y = 4
Since 2y = 4 y = 2 is solution for y. Now substitute it in to either equation,
say (1). We get:
2x + 4(2) = 20 2x + 8 = 20
Subtracting 9 from both sides gives: 2x = 12 x = 6
As a check, substitute x = 6, y = 2 in equation (2). The left hand side is
3(6) + 5(2) = 18 + 10
This equals the right hand side of 28, so the solution x = 6, y = 2 is correct !
SIMULTANEOUS EQUILIBRIUM IN
RELATED MARKETS
Demand and supply in two related markets forms an
example of an economics model using simultaneous
equations.
Demand each market depend both on the price of
the good it self and on the price of the related good.
To solve the model we use the equilibrium condition
for each market and equate the quantity supplied to
the quantity demanded in that market.
This give two equations in two unknows which we
then solve.
The market for activity holidays is represented by the functions
Demand : Qa = 600 (Pa/3) + (Pb/4)
Supply : Qa = -100 + Pa
and the market for beach holidays is represented by the functions
Demand : Qb = 1800 3Pb + (Pa/3)
Supply : Qb = -400 + 3Pb
Where Qa and Qb are quantity of activity and beach holidays respec tively and
Pa and Pb are the prices of each type of holiday. Find the equilibrium prices
and quantities of each type of holiday.

Equating the quantity supplied and demanded in the activity holiday market and
substituting, we get:
-100 + Pa = 600 (Pa/3) + (Pb/4) or (4Pa/3) (Pb/4) = 700 (1)
And equating the quantity supplied and demanded in the beach holiday market give:
-400 + 3Pb = 1800 3Pb + (Pa/3) or (-Pa/3) + 6Pb = 2200 (2)

We now have two simultaneous equation equations to solve for Pa and Pb. Multiply
equation (2) by 4, which gives:

(-4Pa/3) + 24Pb = 8800 (3)
Adding equation (1) and (3) we find:
0Pa + 23.75Pb = 9500
so, 23.75Pb = 9500 Pb = 400
We can now find Pa from equation (2)
Pa/3 + 6(400) = 2200
Subtracting 2400 from each sides we have: (-Pa/3) = -200
Multiplying by -3 gives : Pa = 600
We can find the quantities of holidays most easily from the supply
equations. For activity holidays: Qa = -100 + Pa
Which gives: Qa = -100 + 600 = 500

Using the beach holidays supply equation: Qb = -400 + 3Pb
Which gives: Qb = -400 + 3(400) = 800
The solution is:
Pa = 600, Pb = 400, Qa = 500, Qb = 800
Check by substituting in the demand equations
Activity holiday: Qa = 600 (Pa/3) + (Pb/4)
The right hand side gives:
600 (600/3)+(400/4) = 500 = Qa
Beach Holiday: Qb = 1800 3Pb + (Pa/3)

The right hand sides gives:
1800 3(400) + (600/3) = 800 = Qb

Therefore, the solution is correct