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In a country, output is produced with labor and physical capital. The production function in per-worker terms is y=k^1/2. The depreciation rate is 2%. The investment rate (&) is determined as follows:
&=0.2 if y<=10
&=0.4 if y>10
Draw a diagram showing the steady state(s) of this model. Calculate the value of any steady state levels of k and y. Also, indicate on the diagram and describe briefly in words how the levels of y and k behave outside the steady state. Comment briefly on the stability of the steady state(s).
The unit cost of a console to Nintendo is $30, and of a game to Sega is $10. Suppose, each month, Nintendo considers prices $250 and $350 for consoles, and Sega considers $40 and $50 for games.
At its current level of production, a profit-maximizing firm in a competitive market receives $12.50 for each unit it produces, and it faces an average total cost of $10. At the market price of $12.50 per unit, the firm's marginal cost curve cross..
David Ding advertises on a local radio station. For the past six week, the manager has kept records of the humber of minutes of advertising that were purchased, and the sales for that week. Week 1, 2 minutes of advertising with $1,400 in sales.
Your cousin has just bought a used car for $6000.He is to pay for it as follows.A $2,000 down payment and 24 end of month payments of $177.28.What nominal annual interest rate is being paid What is the actual interest rate
Buy a new car for $14,500. Salvage value is expected to be about $5000 after 3 years. Maintenance and insurance cost is $1000 in the first year and increases at the rate of $500/year in subsequent years. Daily operating expenses are $50/day.
the purpose of this excise is to have you confirm empirically the relationship that theoretically should occur among
Consider the following exchange economy with two consumers and two goods. Consumer 1 has utility function u(x,y) = x1/2 y1/2 and initial endowments (ex,ey)=(1,0). Consumer 2 has utility function u(x,y) = x2 y and initial endowments (ex,ey)=(0,1).
You are buying a new car for $20,000. You put $2000 down and are financing the balance. You signed a contract for the loan for 4 years. Your loan has an interest rate of 8% interest (APR). You make monthly payments and the interest is compounded m..
A pharmaceutical firm is marketing a patented drug it has developed (the firm therefore has monopoly rights over the drug). The demand for the drug is given by Q = 8000 8P (MR(Q) = 1000 Q 4 ), where P is the price of the drug (in cents)
Urea is used as a fertilizer in cultivation of agricultural products. In Pakistan there are very few industrial plants for the production of urea. Energy shortage has badly affected the production of these industrial plants. This situation has inc..
a.) Draw and label a second budget line that shows what happens when the price of the CS rises to $10. b.) Draw and label a third budget line that shows what happens when the price of a CD rises to $10 and Parvez's income rises to $240
Mario and Claudia deposit $100 into their joint account at the end of each month. If their account earns 7 percent/year/year/month (7 percent per year compounded quarterly), how long will it take them to have a total of $15,000 in their account
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