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Michigan - LAW - 520
Jack KoAnalytical Flow Chart for Battle of the Forms under UCC 2-207Buyer needs to expressly assent; otherwise, 207(3) may apply YesBuyer's Purch. Ord.This is a new offer THERE IS NO K.Seller's ACK or InvoiceAcceptance under 207(1)?NoE
Michigan - LAW - 520
I.Obligations Arising From An Agreement With Consideration A. Consideration as Bargained for Exchange 1. Hardesty v. Smith a. Smith got rights to an invention, which later claimed to be useless. Promissory notes assigned to Hardesty who demanded pa
Berkeley - ECON - 100B
For Exam #1 Coverage: Chapters 1 4 and 6. Format:10 multiple choice questions. 1 long question on Production Functions and the Demand for and Supply of Labor or Desired Saving-Desired Investment. 1 long question on the Solow Growth Model.For Ex
Berkeley - ECON - 100B
Name: _ SID: _ Discussion Section: _Problem Set #2 ANSWERS Due Tuesday, February 19, 2008QUESTIONS A. Multiple Choice Questions. Circle the letter corresponding to the best answer. (1 points each.) 1. Over the past year, productivity grew 2.0%, th
Berkeley - ECON - 100B
Name: _ SID: _ Discussion Section: _Problem Set #1 ANSWERS Due Tuesday, February 12, 2008Problem Sets MUST be word-processed except for graphs and equations.QUESTIONS A. Multiple Choice Questions. Circle the letter corresponding to the best answ
Michigan - MATH - 156
Center of Mass: 2-D=M/m; M=mixi m=mi 3-D: x = pxf(x)dx/pf(x)dx=My/m y =0.5p*f(x)+ dx=Mx/m If region is symmetric about L, then CM is on L. Moment principles 1. The moments of a region are unchanged if all the mass is concentrated at the CM. 2. The mo
Berkeley - ECON - 100B
Name: _ SID: _ Discussion Section: _Problem Set #3 ANSWERS Due Tuesday, March 18, 2008Problem Sets MUST be word-processed except for graphs and equations. When drawing diagrams, the following rules apply: 1. 2. 3. 4. 5. 6. Completely, clearly and
Berkeley - UGBA - 143
The Money PotTrust and Ultimatum GamesUGBA 143: Game Theory and Business DecisionsPAYDAY. NOW I HAVE TEN BUCKS.I HAVE A MONEY POT. FOR EVERY DOLLAR THAT I LEAVE IN IT, THERE WILL BE THREE DOLLARS THE NEXT MORNING.SO IT'S A DEAL?12The G
Berkeley - ECON - 100B
Agenda The Supply of LaborProductivity, Output, and Employment, Part 2 Labor Market Equilibrium Unemployment Okun's Law4-14-2The Supply of Labor Supply of labor is determined by individuals:Aggregate labor supply is the sum of individu
Berkeley - ECON - 100B
Agenda Consumption and SavingConsumption, Saving, and Investment, Part 1 Determinants of National Saving Investment5-15-2Consumption and Saving Consumption and saving decisions :Desired consumption is the consumption amount desired by h
Berkeley - ECON - 100B
Agenda InvestmentConsumption, Saving, and Investment, Part 2 Goods Market Equilibrium6-16-2Investment From the desired capital stock to investment:The capital stock changes from 2 sources. Gross investment, which adds to the capital sto
Berkeley - ECON - 100B
Agenda The Sources of Economic GrowthLong-Run Economic Growth, Part 1 Growth Dynamics: The Solow Model7-17-2Long-Run Economic Growth Countries have grown at very different rates over long spans of time.The Sources of Economic Growth Th
Berkeley - ECON - 100B
Agenda Fundamental Determinants of Living Standards.Long-Run Economic Growth, Part 2 Endogenous Growth Theory. Policies to Raise Long-Run Living Standards.8-18-2The Solow Model Fundamental determinants of living standards:The saving rat
Berkeley - ECON - 100B
Agenda What Is Money?The Asset Market, Money, and Prices, Part 1 Portfolio Allocation & the Demand for Assets The Demand for Money9-19-2What Is Money? Money is any asset that is widely used and accepted as payment.What Is Money? The t
Berkeley - ECON - 100B
Agenda Asset Market EquilibriumThe Asset Market, Money, and Prices, Part 2 Money Growth and Inflation10-110-2Asset Market Equilibrium Asset market equilibrium:Assume that all assets can be grouped into two categories, money and non-monet
Berkeley - ECON - 100B
Agenda What is a Business Cycle?Business Cycles Business Cycle Facts. Business Cycle Analysis: A Preview.11-111-2What Is a Business Cycle? Business cycles are the short-run fluctuations in aggregate economic activity around its long-run
Berkeley - ECON - 100B
Agenda Equilibrium in the Labor Market: The FE Line.The IS-LM/AD-AS Model: A General Framework for Macroeconomic Analysis, Part 1 Equilibrium in the Goods Market: The IS Curve. Equilibrium in the Asset Market: The LM Curve. General Equilibrium
Berkeley - ECON - 100B
Agenda Aggregate Demand and Aggregate SupplyThe IS-LM/AD-AS Model: A General Framework for Macroeconomic Analysis, Part 213-113-2Aggregate Demand and Aggregate Supply The AD-AS model is derived from the IS-LM model.The two models are equiv
Berkeley - ECON - 100B
Agenda Price Adjustment and the Attainment of General EquilibriumThe IS-LM/AD-AS Model: A General Framework for Macroeconomic Analysis, Part 313-113-2General equilibrium in the AD-AS modelP LRASDisequilibrium in the AD-AS model Equilibri
Berkeley - ECON - 100B
Agenda Unemployment and Inflation:Is There a Trade-Off?Unemployment and Inflation, Part 115-115-2Unemployment and Inflation Is there a trade-off between inflation and unemployment?In 1958, A.W. Phillips found a negative relationship betwe
Berkeley - ECON - 100B
Agenda The Problem of Unemployment.Unemployment and Inflation, Part 2 The Problem of Inflation.16-116-2The Problem of Unemployment The costs of unemployment:Loss in output from idle resources: If full-employment output is $15 trillion,
Berkeley - ECON - 100B
Agenda Inflation and the Triangle Model.Unemployment and Inflation, Part 3 The DAD SAS Model. Inflation Adjustment and the Attainment of General Equilibrium. Inflation, Disinflation, and Deflation.16-116-2Inflation and the triangle mode
Berkeley - ECON - 100B
Agenda What Macroeconomics Is About.Introduction to Macroeconomics What Macroeconomists Do. Why Macroeconomists Disagree.1-11-2What Macroeconomics Is About Macroeconomics is the study of:1. The structure, dynamic adjustment, and perform
Berkeley - ECON - 100B
Agenda National Income AccountingThe Measurement and Structure of the National Economy Gross Domestic Product Saving and Wealth Real GDP, Price Indexes, and Inflation Interest Rates2-1 2-2National Income Accounting The national income and
Berkeley - ECON - 100B
Agenda The Production FunctionProductivity, Output, and Employment, Part 1 The Demand for Labor3-13-2The Production Function A production function shows how businesses transform factors of production into output of goods and services thro
Berkeley - ECON - 100B
Name: _ SID : _ Discussion Section: _Economic 100B Macroeconomic Analysis Professor Steven WoodSpring 2007Exam #3Please sign the following oath: The answers on this test are entirely my own work. I neither gave nor received any aid while taking
Berkeley - ECON - 100B
Class ID Number: _Name: _ (Last name, first name) SID: _ Discussion Section: _Economic 100B Macroeconomic Analysis Professor Steven WoodFall 2006Exam #1Please sign the following oath: The answers on this test are entirely my own work. I neith
Berkeley - ECON - 100B
Name: _ SID : _ Discussion Section: _Economic 100B Macroeconomic Analysis Professor Steven WoodSpring 2007Exam #1Please sign the following oath: The answers on this test are entirely my own work. I neither gave nor received any aid while taking
Berkeley - ECON - 100B
Name: _ SID : _ Discussion Section: _Economic 100B Macroeconomic AnalysisProfessor Steven WoodSpring 2008Exam #1 ANSWERSPlease sign the following oath: The answers on this test are entirely my own work. I neither gave nor received any aid whil
Berkeley - ECON - 100B
Name: _ SID : _ Discussion Section: _Economic 100B Macroeconomic AnalysisProfessor Steven WoodSpring 2008Exam #1Please sign the following oath: The answers on this test are entirely my own work. I neither gave nor received any aid while taking
Berkeley - ECON - 100B
Name: _ANSWERS_ SID : _ Discussion Section: _Economic 100B Macroeconomic Analysis Professor Steven WoodFall 2006Exam #2 ANSWERSPlease sign the following oath: The answers on this test are entirely my own work. I neither gave nor received any ai
Berkeley - ECON - 100B
Name: _ SID : _ Discussion Section: _Economic 100B Macroeconomic Analysis Professor Steven WoodFall 2006Exam #2Please sign the following oath: The answers on this test are entirely my own work. I neither gave nor received any aid while taking t
Berkeley - ECON - 100B
Name: _ANSWERS_ SID : _ Discussion Section: _Economic 100B Macroeconomic Analysis Professor Steven WoodSpring 2007Exam #2 ANSWERSPlease sign the following oath: The answers on this test are entirely my own work. I neither gave nor received any
Berkeley - ECON - 100B
Name: _ SID : _ Discussion Section: _Economic 100B Macroeconomic Analysis Professor Steven WoodSpring 2007Exam #2Please sign the following oath: The answers on this test are entirely my own work. I neither gave nor received any aid while taking
Berkeley - ECON - 100B
Name: _ANSWERS_ SID : _ Discussion Section: _Economic 100B Macroeconomic Analysis Professor Steven WoodFall 2006Exam #3 ANSWERSPlease sign the following oath: The answers on this test are entirely my own work. I neither gave nor received any ai
Berkeley - ECON - 100B
Name: _ SID : _ Discussion Section: _Economic 100B Macroeconomic Analysis Professor Steven WoodFall 2006Exam #3Please sign the following oath: The answers on this test are entirely my own work. I neither gave nor received any aid while taking t
Berkeley - ECON - 100B
Name: _ANSWERS_ SID : _ Discussion Section: _Economic 100B Macroeconomic Analysis Professor Steven WoodSpring 2007Exam #3 ANSWERSPlease sign the following oath: The answers on this test are entirely my own work. I neither gave nor received any
Berkeley - UGBA - 143
Introduction to UncertaintyUGBA 143: Game Theory and Business DecisionsOne of the three boxes contains a prize; the other two are empty After choosing one of them (e.g. pink), one of the other boxes (e.g. red) is opened and revealed to be empty Wil
Berkeley - UGBA - 143
h is How muc se? in my caExpected Monetary ValueUGBA 143: Game Theory and Business Decisionsh will How muc ff? I knock o12Previous lectureProbability models: Summarize the set of all possible scenarios Estimate probabilities using data
Berkeley - UGBA - 143
Decision Making under UncertaintyDecision TreesUGBA 143 Game Theory and Business DecisionsSo far: situations involving a single decision Practical business scenarios:Multiple choices: Happen at different points in time Inter-related: Future pro
Berkeley - UGBA - 143
OverviewThe Search ProblemUGBA 143: Game Theory and Business DecisionsMany practical scenarios involve a "search problem": to continue searching or to stop?Drug development Product design Consumer shopping behavior Buying a house Marriage and h
Berkeley - UGBA - 143
Decision Trees - OverviewDisplaying AlternativesValue of InformationUGBA 143 Game Theory and Business DecisionsAdding Data Choosing Course of Action Using New Information12V-Haul Moving CompanyDecision: dispatch small truck ($120) or lar
Berkeley - UGBA - 143
The StoryPirates of the CaribbeanUGBA 143: Game Theory and Business DecisionsA group of five pirates has found a chest filled with 100 gold coins Need to decide how to split it They take turns to propose a motion, specifying how many coins each
Berkeley - UGBA - 143
Multi-Period GamesGame TreesUGBA 143: Game Theory and Business DecisionsCan be represented using a "game tree" (also called extensive-form game) Each node represents a decision maker Each branch represents a possible alternative Each end of the
Berkeley - UGBA - 143
Two Smart PigsDominant StrategiesUGBA 143: Game Theory and Business DecisionsBig Pig and Small Pig Food bin with dispenser at one end and lever at other end Pressing lever dispenses 600g of food and burns some calories (equivalent to 50g of food
Berkeley - UGBA - 143
OverviewLast Lecture:Best ResponseUGBA 143: Game Theory and Business DecisionsIntroduced notion of dominance Strategies that are uniformly good / bad to the decision maker, no matter what others do Today: Idea of "best response" Strategies that
Berkeley - UGBA - 143
Nash equilibriumA set of strategies in which no player wouldNash EquilibriumUGBA 143: Game Theory and Business Decisionsunilaterally switch to another alternative Previous examples:Prisoners' Dilemma: both confess Location Game: both locate at
Berkeley - UGBA - 143
OverviewSo far:Mixed StrategiesUGBA 143: Game Theory and Business DecisionsUsed Nash equilibrium to solve games Strategic outcome in which no player would unilaterally deviate to choose another strategyNext:What happens when we cannot find a
Berkeley - UGBA - 143
Three kingdomsAncient China, around 200ADThree KingdomsUGBA 143: Game Theory and Business DecisionsEmpire was divided into three parts Three kingdoms: Wei (under House of Cao) Shu (under House of Liu) Wu (under House of Sun)Main Question:
Berkeley - UGBA - 143
OverviewSo far, we have looked at:More Than Two PlayersUGBA 143: Game Theory and Business Decisions Normal form games Continuous games Typically, between two players Today: More complex strategic situations Many players1 2Cournot competit
Berkeley - UGBA - 143
Spring 2008, UGBA 143Homework 6 SolutionProblem 1 (Price Competition)Profit = Revenue - Cost Define A as profit for firm A, B as profit for firm B Total profit of A is: Profit/Unit * Total Quantity = (pA - 2) * QA Where QA 10 - pA a) Therefore,
Berkeley - UGBA - 143
Spring 2008, UGBA 143Homework 1 Solution1. (Pooled Testing)General Set-up: Individual Testing: N tests (N = number of donors). Pooled Testing: at least 1 test, but possibly N more tests. p = probability of a given donor to be HIV-positive Note th
Berkeley - UGBA - 143
Spring 2008, UGBA 143Homework 2 Solution1. (Oil Drilling) a) We can first draw a simple probability tree as below:i.)We first want to find the probability of finding oil, given a favorable report. Recall Bayes rule, P(A|B) = P(A & B) / P(B). I
Berkeley - UGBA - 143
Spring 2008, UGBA 143Homework 3 SolutionProblem 1 a) The decision tree for this problem is as follow:Therefore, the best decision is to bid $1M dollars and the expected payoff for this decision is $69,000b) In order to calculate the value of k
Berkeley - UGBA - 143
Spring 2008, UGBA 143Homework 4 SolutionProblem 1Here are the three game trees, with payoff in $1000s. The black dots represent the branches that will be chosen:-5,-5 a Y -7,0 B Y -7,-7 N -7,0 Y 0,-7 2,2 c Y 2,2 B Y 2,2 N Y A N 0,2 B N -5,-5 A
Berkeley - UGBA - 143
Spring 2008, UGBA 143Homework 5 SolutionProblem 1a) The strategies below are truly final offers from labor union (L) and management (M), and the outcomes represent their losses (in cents, compared with their initial offers), based on the final wa
Michigan - MATH - 156
Error bound for a series: 0 S-Sn (n to oo) f(x)dx ; Sn S Sn + (n to oo) f(x)dx Comparison test for series Alternating Series tests for convergence Suppose an satisfies: 1. An>0 2. An+1 <an 3. Lim (n->oo) an = 0 Then (-1)nan converges n-1 Alternatin
Michigan - ENGR - 100
Engineering 100.100 Wynarsky/Hildinger Fall 2007Exam 1 Review Materials TC Section Here are a few things I forgot to mention (or emphasize) yesterday: o Your audience will expect you to support your claims with suitable data o Your audience will