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There are two invididuals. The first (individual A) has the utility function \(u^{a} = x_{1}^{2} + x_{2}^{2}\) , x>=0, and endowment (1,2).
The second (individual B) has utility function \(u_{b} = x_{1} + ax_{2}\) , a>0, x>=0, and endowment (2,1).
1. Compute the competitive equilibrium prices and allocations.
2. Compute the Pareto optimal allocations.
3. Compute the core allocations.
The parameter "a" is making it difficult for me to do the computations. I think that because individual A has a convex utility function, there will be a corner solution.
Kyle is an English PhD student; there is some chance he will get a prestigious university job that will pay him $80,000/year (probability p). If he does not get this job, he will have to take a job at Starbuck's, paying $25,000/year (probability (..
Fit a multiple regression model of y on x1 and x2. Fit two simple linear regressions: (I) y on x1; (II) y on x2. Compare the results of multiple regression analysis with each of simple linear regressions.
Suppose you have been employed as an economic analyst, your job is to use the Regression Model to estimate potential sales of your employer's product.
Evaluate the merit or otherwise of the above statement by commenting on the R2 values of the estimated CAPM regressions above.
Gold Trackers watching the value of precious metals and has daily information on prices and sales of gold for the last many years.
short-term parkers and all-day parkers with respective demand curves of Ps=3-(Qs/200) and Pc=2-(Qc/200). Here P is the average hourly rate and Q is the number of cars parked at this price. The garage owner is considering charging different prices ..
Interpret the coefficient on log(dist). Is the sign of this estimate what you expect it to be? Do you think simple regression provides an unbiased estimator of the ceteris paribus elasticity of price with respect to dist? (Think about the city's d..
Tom can produce 40 balls per hour or 4 bats per hour. Tessa can produce 80 balls per hour or 4 bats per hour. a. calculate Tom's opportunity cost of producing a ball. b. calculate Tessa's opportunity cost of producing a ball.
A major advantage of production function is that it can be easily transformed into a linear function, and thus can be analyzed with the linear regression method.
Tabulate or graph the results; Analyze and discuss the results, noting any interesting, tures
In a population Y=100 and Y=43. Use the central limit theorem to answer the following questions a. In a random sample of size n=100, find P(Y or = 98).
The price at point a is $70 and the price at point c is $10 per bag. The price at point d is $40 and the price at point e is $20 per bag. The price at point f is $32 and the price at point g is $4 per bag. Apply the formula for the area of a trian..
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