Microeconomics principles and analysis phần 3 pptx

... three resources R 3 ; R 4 ; R 5 sketch the attainable set for commodities 1 and 2. 5.8. READING NOTES 117 the household – to the analysis of labour supply and of the demand for loans and the supply ... resources it owns and its shares in the …rms’pro…ts.[Hint: Check equations (2.66) and (4. 13) ] 7 .3. THE LOGIC OF PRICE-TAKING 155 Figure 7.6: An allocation that blocks [x a ] th...

Ngày tải lên: 09/08/2014, 19:21

... cases . . . . . 437 13. 3 Nonconvexity: e¤ect of the competitive market . . . . . . . . . . 438 13. 4 Nonconvexity: an e¢ cient fee schedule . . . . . . . . . . . . . . . 439 13. 5 Nonconvexity: ... . . . . . . . . 228 9 .3 Principles for social judgments: e¢ ciency . . . . . . . . . . . . . 234 9 .3. 1 Private go ods and the market . . . . . . . . . . . . . . . . 237 9 .3. 2 Dep...

Ngày tải lên: 09/08/2014, 19:21

... 64 CHAPTER 3. THE FIRM AND THE MARKET marginal …rm, the situation is as in Figure 3. 13. It makes zero pro…ts but faces a downward-sloping demand curve. Example 3. 2 What makes one type ... erlin (1 933 ); see also Dixit and Stiglitz (1977) that is used as a basis for Exercise 3. 2. Various types of discriminating monopoly are treated by Pigou (1952) chapter 17. 3. 10 Exercises 3. 1...

Ngày tải lên: 09/08/2014, 19:21

... can always be done. 194 CHAPTER 8. UNCERTAINTY AND RISK Figure 8. 13: Di¤erences in risk attitudes Theorem 8 .3 (Concavity and risk aversion) Let u and bu be two felicity (cardinal utility) functions ... is risk-loving for small risks and risk-averse for large risks. 8.5. LOTTERIES AND PREFERENCES 199 Figure 8.18: The probability diagram: # = 3 7.8 and B.21) The $ = 3 case c...

Ngày tải lên: 09/08/2014, 19:21

... con‡ict and cooperation that are fundamental to microeconomic problems. The principles of economic analysis that we will develop will provide a basis for the discussion of chapters 11 and 12 and ... = P n i=1 p i q f i (p) 9 = ; (9. 53) So obviously national income will be …xed for a given price vector p and for given resources and technology. So, in view of the concavity and...

Ngày tải lên: 09/08/2014, 19:21

... (11 .32 )  Third, given (11 .32 ), we must have: 13  a (x a 1 )  F a > 0: 11 Sh ow this by usi ng (11.22) and (11.29). 12 Sh ow this by usi ng (11.22) and (11 .31 ). 13 Sh ow this using (11 .32 ) ... move game in which strategies are actions. s b 1 s b 2 s b 3 s a 1 0; 2 3; 1 4; 3 s a 2 2; 4 0; 3 3; 2 s a 3 1; 1 2; 0 2; 1 Table 10.10: Elimination and equilibrium 1. I...

Ngày tải lên: 09/08/2014, 19:21

... e¤ort level z = 4 3 or z = 1 and gross pro…ts are either  1 = 3z 2 or  2 = 3z. The outcome  1 occurs with probability  = 2 3 if action z is taken, and with probability  = 1 3 otherwise. The ... The indi¤erence curves in (leisure, income)-space are shown in the left-hand panel of Figure 12.7 Using (12 .33 ) and (12 .34 ), for an Agent of type  we can also express utility in (...

Ngày tải lên: 09/08/2014, 19:21

... marginal utility by reaction to risk. Economet- rica 13, 31 9 33 3. 472 CHAPTER 13. GOVERNMENT AND THE INDIVIDUAL 448 CHAPTER 13. GOVERNMENT AND THE INDIVIDUAL way of incorporating the social costs ... 63. 2 Fruits and vegetables 8.2 18.6 33 .4 Drink and Tobacco 10.1 24.1 48.5 Household running expenses 5 .3 11.4 18.2 Durable goods 5.6 11.8 19.0 Other goods and services 6.2 13. 4...

Ngày tải lên: 09/08/2014, 19:21

... (B .33 ) Using Shephard’s Lemma gives the result immediately. 23. From (4.27) we see that V (tp; C(tp; )) =  ; (B .34 ) 518 APPENDIX A. MATHEMATICS BACKGROUND A.8.2 Bayes’rule Let E 1 , E 2 , E 3 be ... fallen, and so the expression is positive, the same sign as the welfare change. 26. Use equation (4. 23) and apply reasoning similar to the answer to question 19. 27. Compare equation...

Ngày tải lên: 09/08/2014, 19:21

... in several important texts (Gray and Leiser, 1982; Morgan and Rickson, 1995; Schiechtl and Stern, 1997) and in trade journals such as Erosion Control and Land and Water. A few designs are reviewed ... capacity) FIGURE 3. 13 The diagram of the supreme ultimate in Taoism. The symmetrical pattern of yin and yang. 102 Ecological Engineering: Principles and Practice to vast str...

Ngày tải lên: 06/07/2014, 14:20