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Question 1) A consumer must decide how much of a good to consumein period 0 and period 1, co and c1 respectively. Goods not consumedin period 0 become capital, k1, and are used to produce more goodsin period 1. There is an initial amount of capital, k0, that producesgoods in period 0. The production function is f(kt) = kαt Each periodthe consumer gets a utility that depends on consumption in that periodgiven by u(ct) = log ctfor t = 0, 1. The consumer's objective isto maximize the discounted expected utility. Solve the maximizationproblem faced by the consumer.(1) maxco,c1log co + β log c1s.t. co + k1 ≤ kαoc1 ≤ kα1co ≥ 0, c1 ≥ 0
Question 2) A price taking firm has a production function given byf(K, L) = K.25L.25. The price of output is normalized to 1, and theprices of L and K are w and r. Find the profit maximizing amountof K and L and verify that the second-order conditions or sufficient conditions are satisfied.
q1. how did various visions of a reconstructed south fluctuate? explain how did these visions reflect the old political
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Why would the money supply increased rapidly was inflation relatively low during the recession of 2007 2009 and its immediate aftermath?
Find the equilibrium values of the real interest rate, consumption, investment, and the price level.
Explain what are two initial responsibilities of the financial manager. From the Internet what are two additional ideas about the other activities that financial managers are involved in on a day-to-day basis.
Automobile Insurance Antonio Munoz and Jacinto Segura won some money from two unidentified men in a craps game in a Los Angeles park. When Munoz and Segura left the park in Segura’s car, the two men followed them in another car. What is the Rule, App..
Now that you are an expert on elasticities, what do you think would be the best time of year to raise prices, and why? What do you think the elasticities are in the flower business? Use graphs and hypothetical tables to support your answer.
When estimating the demand for tourism what are the relevant variable that must be included for the "generating are, and the destination area? Describe four major factors, other than price, likely to influence demand for a resort hotel in Acapulco.
The Einstein Bagel Corp. has used a frequent buyer program whereby a consumer receives a stamp each time she purchases one dozen bagels for $6. After a consumer accrues 10 stamps, she receives one dozen bagels free. Given this information, construct ..
Esther price of maple syrup increased by $6 per pint - $7 per pint production increase from 250 to 300 pints what is the elasticity of supply over this range is Supply elastic or inelastic over this range
Car Depreciation problem: A common complaint is that a new car will depreciate by 25% as soon as the new owner drives it off the lot. This information comes from resale price data from cars sold just months after the initial purchase. How does advers..
Create detailed Pseudocode for a program that calculates how manydays are left until Christmas, when given as an input how many weeksare left Christmas. Use variable named weeks and days.
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