c) Let y - Ara. Suppose that we see when p - 2 and w - 1 then x-3 and y-8. Also when p-1 and w 1.5, then x-4 and y - 10. Can we identify the parameters of the production function from these two observations? Graph what an economist who didn't know the functional form of the production function would conclude about the production set.
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C) Let y - Ara. Suppose that we see when p - 2 and w - 1 then x-3 and y-8. Also when p-1 and w 1....
Let yp(y) be the C(2) inverse demand function facing a monopoly, where y++ is its rate...
Let yp(y) be the C(2) inverse demand function facing a monopoly, where y++ is its rate of output, and let yC(y) be the C(2) total cost function of the monopoly. Assume that p(y)>0, p'(y)<0, and C'(y)>0 for all y++, and that a profit maximizing rate of output exists. Total revenue is therefore given by R(y)=p(y)y. Given that question uses an inverse demand function, the elasticity of demand, namely (y), is defined as (y)= 1/p'y p(y)/y. Why is (y)<0? Prove that...
Let X1,...,X10 be a random sample from N(θ1,1) distribution and let Y1,...,Y10 be an independent random sample from N(θ2,1) distribution. Let φ(X,Y ) = 1 if X < Y , −5 if X ≥ Y , and V= φ(Xi,Yj)...
Let X1,...,X10 be a random sample from N(θ1,1) distribution and let Y1,...,Y10 be an independent random sample from N(θ2,1) distribution. Let φ(X,Y ) = 1 if X < Y , −5 if X ≥ Y , and V= φ(Xi,Yj) . 1. Find v so that P[V>=v]=0.45 when 1=2. 2. Find the mean and variance of V when 1=2. 10 10 2 We were unable to transcribe this imageWe were unable to transcribe this imageWe were unable to transcribe this imageWe...
1. Let X be a discrete random variable with a cumulative distribution function: a. Use this cdf to fin the limiting distribution of the random variable when with , as n increases. Use the fact b....
1. Let X be a discrete random variable with a cumulative distribution function: a. Use this cdf to fin the limiting distribution of the random variable when with , as n increases. Use the fact b. What kind of random variable is for large value of n? We were unable to transcribe this imageWe were unable to transcribe this imageWe were unable to transcribe this imagep= We were unable to transcribe this imageWe were unable to transcribe this imageWe were...
1. Let the production function be y = c. (a) Suppose the price of is w...
1. Let the production function be y = c. (a) Suppose the price of is w = 1. Find the firm's total cost curve C(y), average cost curve AC(y), and marginal cost curve MC(y). (b) Assume that p> min AC(y), find the firm's supply curve y(w,p). (c) Suppose the price of y is p = 10, and the price of the input r is w = 1, calculate the firm's profit. 2. Assume the production function is y = 5.3...
1. Let the production function be y=. (a) Suppose the price of x is w =...
1. Let the production function be y=. (a) Suppose the price of x is w = 1. Find the firm's total cost curve C(s), average cost curve AC(y), and marginal cost curve MC(y). (b) Assume that p min AC(y), find the firm's supply curve y(w.p). (e) Suppose the price of y is p = 10, and the price of the input x is w = 1, calculate the firm's profit.
Let a 1. Suppose S = {2, 3, ... , } and P(k) = , k...
Let a 1. Suppose S = {2, 3, ... , } and P(k) = , k = 2, 3, ... Find P(outcome is odd) . Express the answer in the terms of a. We were unable to transcribe this imagea4k-1
Let a 1. Suppose S = {2, 3,...,} and P(k) = , k = 2, 3......
Let a 1. Suppose S = {2, 3,...,} and P(k) = , k = 2, 3... Find P(outcome is less than or equal to 4). Express the answer in terms of a. We were unable to transcribe this imagea4k-1
9. Let X and Y be two random variables. Suppose that σ = 4, and σ...
9. Let X and Y be two random variables. Suppose that σ = 4, and σ -9. If we know that the two random variables Z-2X?Y and W = X + Y are independent, find Cov(X, Y) and ρ(X,Y). 10. Let X and Y be bivariate normal random variables with parameters μェー0, σ, 1,Hy- 1, ơv = 2, and ρ = _ .5. Find P(X + 2Y < 3) . Find Cov(X-Y, X + 2Y) 11. Let X and Y...
Let a 1. Suppose S = {2 ,3, ..., } and P(k) = , k =...
Let a 1. Suppose S = {2 ,3, ..., } and P(k) = , k = 2,3 ... (a) Find the value of c that makes this a valid probability distribution. Express c in terms of a. (b) Find P(outcome is odd). express the answer in terms of a. We were unable to transcribe this imagea4k-1
Let M be the lower hemisphere of the unit sphere, i.e., the surface specified by z=-sqrt{1-x^2-y^2}. Suppose the spehre...
Let M be the lower hemisphere of the unit sphere, i.e., the surface specified by z=-sqrt{1-x^2-y^2}. Suppose the spehre is oriented according to the exterior normal vector. Evaluate We were unable to transcribe this image3ydxdy 3ydxdy
1. Let the production function be y = c. (a) Suppose the price of is w = 1. Find the firm's total cost curve C(y), average cost curve AC(y), and marginal cost curve MC(y). (b) Assume that p> min AC(y), find the firm's supply curve y(w,p). (c) Suppose the price of y is p = 10, and the price of the input r is w = 1, calculate the firm's profit. 2. Assume the production function is y = 5.3...
1. Let the production function be y=. (a) Suppose the price of x is w = 1. Find the firm's total cost curve C(s), average cost curve AC(y), and marginal cost curve MC(y). (b) Assume that p min AC(y), find the firm's supply curve y(w.p). (e) Suppose the price of y is p = 10, and the price of the input x is w = 1, calculate the firm's profit.
9. Let X and Y be two random variables. Suppose that σ = 4, and σ -9. If we know that the two random variables Z-2X?Y and W = X + Y are independent, find Cov(X, Y) and ρ(X,Y). 10. Let X and Y be bivariate normal random variables with parameters μェー0, σ, 1,Hy- 1, ơv = 2, and ρ = _ .5. Find P(X + 2Y < 3) . Find Cov(X-Y, X + 2Y) 11. Let X and Y...
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