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Question: Suppose that the long-run production function which describes how labour and capital generate output is homothetic and displays constant returns to scale.
(a) Will the expansion path be upward sloping and convex for given input prices?
(b) Under what conditions will the long-run average cost curve be downward sloping?
Determine whether or not there exists a solution to the following linear Diophantine equation - Determine whether or not there exists a solution to the linear Diophantine equation.
Find the critical points of the function and Does the function reach a maximum or a minimum? Base your answer on a discussion of the properties of the Hessian matrix of the function - Find the equation of the tangent plane at the critical points id..
An extra unit of X adds nothing to a consumer's satisfaction unless accompanied by an extra unit of Y.
Determine how long it will take the milk to completely drain from the vat - Calculate the length of the proposed section of train track - Find the percentage of customers who have to wait more than 4 minutes.
Find the mixed strategies for the given payoff matrix.
What is the significance? Which statistical method(s) will be used when determing your zodiac sign? This only has to be a 2 page assignment and it can be double spaced.
Use part a) to find the maximum of the function f(x, y, z) = x + y + z on the set α(U), where U = {(x, y) : 0
Show that an iteration of the revised simplex method takes longer than an iteration of the standard simplex method whenever the bases B.
Compute the probability that more than 1200 units are ordered in one week.
What is the distribution of the time till the next epoch of N2(t) and what is the probability that the next epoch of N (t) is an epoch in N1(t)?
Linear system S has the relationship - Show the system output with input and Determine and sketch and contains only three discontinuities, what is the value of α?
The vast majority of the world uses a 95% confidence in building confidence intervals. Give your opinion on why 95% confidence is so commonplace. Justify your response.
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