Basic Mathematics for Economists - Rosser - Chapter 11 pps

... constraint, when the first-order conditions for optimization of the relevant Lagrange equation are met. For the purpose of answering the problems in this Chapter, and for most constrained maximization problems ... = 22.5(275,567.6) K 2.5 K 2.5 = 22.5(275,567.6) 40 = 155,006.78 K = 119 .16268 Substituting this value into (1) gives L = 275,567.6 (119 .1628) 1.5 = 211. 84478 This time we...

Ngày tải lên: 06/07/2014, 07:20

... Rosser (YoucancheckthesesolutionsarethesameasthoseinExample5.14whichhadthesame supplyanddemandfunctions.) Inamodelwithtwodependentvariables,likethissupplyanddemandmodel,oncethe reducedformequationforonedependentvariablehasbeenderivedthenthereducedform equationfortheotherdependentvariablecanbefound.Thisisdonebysubstitutingthe reducedformforthefirstvariableintooneofthefunctionsthatmakeupthemod...

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... 24.5 -6 82 35.5 -2 97 10 3 -3 7 14 -5 98 25 -6 75 36 -2 68 11 3.5 -7 3 14.5 -6 12 25.5 -6 67 36.5 -2 38 12 4 -1 08 15 -6 25 26 -6 58 37 -2 07 13 4.5 -1 42 15.5 -6 37 26.5 -6 48 37.5 -1 75 14 5 -1 75 16 -6 48 ... -6 48 27 -6 37 38 -1 42 15 5.5 -2 07 16.5 -6 58 27.5 -6 25 38.5 -1 08 16 6 -2 38 17 -6 6...

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... the NPV? © 1993, 2003 Mike Rosser Table 7.6 Discounting factors for Net Present Value Rate of 4% 5% 6% 7% 8% 9% 10% 11% 12% 13% 14% 15% interest i Year 0111 1111 1111 1 1 0.961538 0.952381 0.943396 ... 12000 10% 9563.64 11 11% 7090.04 12 IRR = 14.14% 12% 4725.54 13 13% 2464.06 14 14% 299.94 15 15% -1 772.14 16 16% -3 757.14 17 17% -5 659.71 18 18% -7 484.20 19 19% -9 234...

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... rule. Assume, for example, that you wish to find an expression for the slope of the non-linear demand function p = (150 − 0.2q) 0.5 (1) ThebasicrulesfordifferentiationexplainedinChapter8cannotcopewiththissortof function. ... 60 + 51.2 = 111 .2 Therefore, TVC is equal to the area under the MC schedule between zero and the given quantity. © 1993, 2003 Mike Rosser Test Yourself, Exercise 1...

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... your forecast for price when t is 8? 14.10 Continuous adjustment in a Keynesian macroeconomic model In a basic Keynesian macroeconomic model, with no foreign trade and no government sec- tor, ... illustrate. tY t = 80e −0.2t + 1,120 5 114 9.43 10 113 0.83 20 112 1.47 Test Yourself, Exercise 14.7 Given that E = C +I , derive a function for Y in terms of t for each of the following m...

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... order you perform the calculations and the type of calculator you use. There are set rules for the order in which basic arithmetic operations should be performed, whichareexplainedinChapter2.Nowadays,theseareprogrammedintomostcalculators but ... quantification of economic predictions requires the use of mathematics. Although non-mathematical economic analysis may sometimes be useful for...

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... Rosser TestYourself,Exercise4.10 Fortheproductionfunctionsbelow,assumefractionsofaunitofKandLcanbe used,and (a)deriveafunctionfortheisoquantrepresentingthespecifiedoutputlevelinthe formK=f(L) (b)findthelevelofKrequiredtoachievethegivenoutputlevelifL=100,and (c)saywhattypeofreturnstoscalearepresent. 1.Q=9K 0.5 L 0.5 ,Q=36 2.Q=0.3K 0.4 L 0.6 ,Q=24 3.Q=25K 0.6 L 0.6 ,Q=800 4.Q=42K 0.6 L 0.75 ,Q=...

Ngày tải lên: 06/07/2014, 07:20