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1. Consider the following translog cost function for a produceremplying N inputs to produce M outputs in period t.
(a) What parameter restrictions would guarantee linear homogeneity of the cost function in input prices? Prove your answer in clear steps.
(b) Derive the formula for the rate of technical progress.
(c) Derive the cost share equation for input i.
Explain what the results of such a move are for the graham cracker market. In other words, will there be a shortage, a surplus, or neither created? Why?
Assuming that the height distribution can ade- quately be approximated by a normal curve, find the mean and standard deviation of the distribution.
Was the wage freeze an example of a price floor or a price ceiling? Use the model of demand and supply to explain why employers began to offer such benefits to their employees.
Suppose that they have decided to accept a custom-style order that has sufficient volume to exceed break-even and have already set up for production. The customer now indicates that they are only willing to pay $31.99 per pair of shoes.
You open a savings account to save for a new house. Everymonth you put $100 into a savings account which pays 5% interestcompounded monthly. At the end of each year you receive a $500bonus which you place directly into your "housefund".
Suppose that the reserve requirement is 3% on the first 30 million of checkable deposits and 10% on the checkable deposits in excess of 30 million. (Amounts on the balance sheet are in millions of $) Assets- Reserves 15.9, Loans 150.0, Securities 3..
Calculating the price elasticity of demand - A step-by-stepguideSuppose that during the past year, the price of a laptop computer rose from $2,750 to $2,880. During the same time period, consumer sales decreased from 446,000 to 321,000 laptops.
Which civilization had the most fortifications?
An industrial machine costing $10,000 will produce net cash savings of $4,000 per year. The machine has a five-year useful life but must be returned to the factory for major repairs after three years of operation. These repairs cost $5,000.
How does a minimum wage imposed under monopsony differ in results as compared with a minimum wage imposed under perfect competition? (Assume the minimum wage is above the market-determined wage.)
Find the general equilibrium values of the real interest rate, consumption, investment, and the price level.(b)Suppose the money supply increases to 2800. Find the general equilibrium values of the real interest rate, consumption, investment, and t..
Use Excel to calculate the mean and standard deviation for the percent changes in market indices. Perform the same calculations for the percent changes in interest rates. What do these numbers indicate?
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