Microeconomics principles and analysis phần 8 doc

... deodorant and perfume be subs idised? 13 .8. CONCLUSION: ECONOMIC PRESCRIPTIONS 467   = 1:025   = 1:05   = 1:075 Meat, …sh, dairy products and fats 11.1 27 .8 63.2 Fruits and vegetables 8. 2 18. 6 ... 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 22.0 13...

Ngày tải lên: 09/08/2014, 19:21

... 3.5239 30.63 6 2.40 98 51.75 3.6645 30.36 7 2.2961 51 .87 3.4951 30.72 8 2. 285 9 51 .89 3.13 08 30.20 9 2.4673 51 .80 3.2411 30.54 10 2. 081 6 51.69 3.1027 30. 18 Mean 51. 68 30. 48 SD 0.152 0. 183 SMART Trac ... 7.25 2.73 48 74. 28 7.29 2 3. 489 1 74.51 7.34 3.4454 74.23 7.14 3 3.7672 74.66 7.33 2. 681 5 74. 38 7.22 4 3.4990 74.65 7.32 3.2946 74. 18 7.21 5 3 .89 61 74.53 7.29 3....

Ngày tải lên: 06/08/2014, 13:22

... times Financial leverage Total debt-to-assets $ 48, 319/ $83 ,451 = 58. 90% $46, 787 /$ 78, 130 = 59 .88 % Total debt-to-equity $ 48, 319/35,102 = 1. 38 times $46, 787 /$31,343 = 1.49 times Interest coverage $12,077/$1,326 ... plant and equipment $45,750 $40,934 Goodwill 8, 595 9,059 Other assets 86 0 1, 582 Total assets $83 ,451 $ 78, 130 Current Liabilities Payables and accru...

Ngày tải lên: 09/08/2014, 16:21

... . . . . . . . . . . . 185 8. 3.2 Von-Neumann- Morgenstern utility . . . . . . . . . . . . . 188 8. 3.3 The “felicity”function . . . . . . . . . . . . . . . . . . . . 189 8. 4 Risk aversion . . . ... CONTENTS 8 Uncertainty and Risk 177 8. 1 Introduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 177 8. 2 Consumption and uncertainty . . . . . . . . . . . . . . . . ....

Ngày tải lên: 09/08/2014, 19:21

... likely-looking equation involving prices and in- come on the right-hand side and commodity quantities on the left-hand side and expect it to b e a valid demand function. To see why, note two things: 12 Draw ... AND THE MARKET 2. In a market of a thousand consumers the demand curve for the commodity is given by p = A  bq where q is total quantity demanded and A and b are positive...

Ngày tải lên: 09/08/2014, 19:21

... results on the …rm’s demand and supply functions and the consumer’s demand functions. 18 Prove this law, using the facts that (a) for each household income equals expenditure, and that (b) each household’s ... 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 suppl...

Ngày tải lên: 09/08/2014, 19:21

... y blue ) = (y + r 0 ; y + r  ) (8. 13) 186 CHAPTER 8. UNCERTAINTY AND RISK Figure 8. 8: Indepe nd enc e axiom: illustration Axiom 8. 3 (Revealed Likelihood) Let x  and x be two payo¤s such that under ... 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 can be seen...

Ngày tải lên: 09/08/2014, 19:21

... Boadway and Bruce (1 984 ). On the “constitution” approach see Arrow (1951), Black (19 58) and the excellent paper by Vickrey (1960) ; for the basis of Theorem 9.2 see Black (19 48) . The standard ... Table 10.4, if Alf takes  b as given and chooses probability  a his expected utility is 8  3 b  1   a + 1   b ; (10 .8) 8 Use Table 10.4 to derive (10 .8) and (10.9) . ......

Ngày tải lên: 09/08/2014, 19:21

... classic contributions whose logic underlies so much modern work are to be found in Bertrand ( 188 3), Cournot ( 183 8) and von Stackelberg (1934). 10.10 Exercises 10.1 Table 10.10 is the strategic form ... page 84 ] 18 Take the labour-monopsony example of notes 7 .and 8 (a) Show how the optimal labour contract is deter mined by using an analogy to Figure 11.7. (b) What is the analogy...

Ngày tải lên: 09/08/2014, 19:21

... (12. 28) is as follows. Each agent h is required to pay: 23 P h  p 1 ; p 2 ; :::  = 8 > > < > > : z h if  = 1 and h is not pivotal z h   h if  = 1 and h is pivotal 0 if  = 0 and ... complements the market analysis of previous chapters. 12.6. DESIGN: APPLICATIONS 413 Figure 12 .8: Two types of Agent: Full-information solution able workers with talent  a and t...

Ngày tải lên: 09/08/2014, 19:21