# Register now to access 7 million high quality study materials (What's Course Hero?) Course Hero is the premier provider of high quality online educational resources. With millions of study documents, online tutors, digital flashcards and free courseware, Course Hero is helping students learn more efficiently and effectively. Whether you're interested in exploring new subjects or mastering key topics for your next exam, Course Hero has the tools you need to achieve your goals.

2 Pages

### 503-HW-5

Course: E 503, Fall 2009
School: Washington University...
Rating:

Word Count: 453

#### Document Preview

503 Econ Professor John H. Nachbar Fall 2007 Homework 5 Due: Friday, October 12. 1. Consider a production set Y RN and a competitive rm facing the problem max py yY Assume that there is a C 2 solution function y , where y (p) is the netput that maximizes prot at prices p. Let the associated value function be Prot(p) = p y (p). (a) Prove that Prot is homogeneous of degree 1. (b) Prove that Prot(p) = y (p). This...

Register Now

#### Unformatted Document Excerpt

Coursehero >> Missouri >> Washington University in St. Louis >> E 503

Course Hero has millions of student submitted documents similar to the one
below including study guides, practice problems, reference materials, practice exams, textbook help and tutor support.

Course Hero has millions of student submitted documents similar to the one below including study guides, practice problems, reference materials, practice exams, textbook help and tutor support.
503 Econ Professor John H. Nachbar Fall 2007 Homework 5 Due: Friday, October 12. 1. Consider a production set Y RN and a competitive rm facing the problem max py yY Assume that there is a C 2 solution function y , where y (p) is the netput that maximizes prot at prices p. Let the associated value function be Prot(p) = p y (p). (a) Prove that Prot is homogeneous of degree 1. (b) Prove that Prot(p) = y (p). This is Hotellings Lemma. (c) Prove that Prot is convex. (d) Prove that Dp y (p) is symmetric and positive semidenite. Thus, the Law of Supply always holds (supply is upward sloping). Can Dp y (p) be positive denite? 2. Consider a production function f : RM RL and a competitive rm facing the problem min wx f (x) q where w RM , x RM , q RL . In words, the problem is to minimize the ++ + + cost of producing a vector q when input prices are w. Assume that there is a C 2 solution function x , with x (w, q) being the minimum cost for producing (at least) q. z is conditional factor demand (conditional on the output level q). Let the associated value function be Cost(w, q) = w x (w, q). (a) Prove that Cost is homogeneous degree of one in w. (b) Prove that if q q (that is, q q for each ), then Cost(w, q ) Cost(w, q). (c) Prove that w Cost(w, q) = x (w, q). This is Shepards Lemma. 1 (d) Prove that Cost is concave in w. (e) Prove that Dw x (w, q) is symmetric and negative semidenite. Dw x (w, q) be negative denite? Can 3. (May be challenging.) Consider an innite set of rms, each with C 2 production function f : R+ R+ . Assume f (0) = 0, Df (x) > 0 and D2 f (x) < 0 for every x > 0. Assume f (0) = < . (a) For any J such rms, show that output is maximized when input is split equally across rms: given x, set xj = x/J for each rm j. (b) Let Y = {y R2 : y2 f (y1 )}. Y is just ...

Find millions of documents on Course Hero - Study Guides, Lecture Notes, Reference Materials, Practice Exams and more. Course Hero has millions of course specific materials providing students with the best way to expand their education.

Below is a small sample set of documents:

Penn State - JJH - 335
Buddy Rich 1Jazz music is an art form of many flavors and even more musicians. From its early roots to its most recent recordings, jazz is an influential style of music demanding talented musicians who have been up to the task since the very beginning. F
Georgia Tech - CS - 7635
Problem Set 3Isolated Digit Recognition Using HMMProf. Jim Rehg CS 7635 Computational Perception College of Computing Georgia Institute of Technology March 22, 2002In this problem set you will use some canned Matlab code to explore the performance of a
Michigan - STAT - 406
Statistics 406 Homework 1Due Monday, September 20 1. Write Octave programs to generate vectors containing the patterns of numbers described below. Do not type in the vectors as literal sequences. Instead, use vector arithmetic and range operations (descr
Texas San Antonio - CRIM - 3113
Development of a Juvenile Justice System:I. The Rise of the Institution 1. 2. II. Houses of Refuge Elmira ReformatoryThe Juvenile Court - Illinois in 1899 1. 2. 3. 4. 5. State is the ultimate parent of child Children are worth saving Children should be
Penn State - DJM - 415
It's A Six Star Steak.Debbie McAllister Penn State University According to the 2000 National Beef Quality Audit, insufficient marbling and inadequate tenderness were the top two greatest quality challenges according to purveyors, retailers and restaurate
Concordia Chicago - GALTON - 34500
Beef Tenderness Letter = Section, Number = Block within Section40D 10 C835D 12D 11 A3 E 15 D 12 B6 A3 B5 C9 E 1330B6 B4 C8 A2 D 10 D 11 E 14 C 9 B5 E 14 E 15 C2 A7Tenderness2025B4A115 10E 13 C7 A10510 Storage15Beef Tenderness Letter = S
Minnesota - MATH - 1024
University of Minnesota Duluth Math 1024 Introduction to Contemporary Mathematics Summer 2008Instructor: Deanna RileyPhone: 726-7200Office: SCC 72 E-mail: driley@d.umn.eduWeb Site: http:/www.d.umn.edu/~driley Class Times: M-Th 9:30 am noon in China 30
Cal Poly Pomona - CHM - 315
Arrange the following compounds in order of INCREASINGLY NEGATIVE heats of hydrogenation (from smallest !H to largest).IIIIIIIVA) III &lt; I &lt; IV &lt; II B) II &lt; III &lt; I &lt; IV C) IV &lt; II &lt; I &lt; III D) II &lt; IV &lt; I &lt; III E) III &lt; I &lt; II &lt; IV
UCSC - SOE - 111
A Unix ProcessText Data Stack Process Status File File Resources ResourcesUNIX kernelpid = 25 Text Data StackHow Fork WorksResources Resources File FileProcess Status&lt;.&gt; int cpid = fork( ); if (cpid = = 0) cfw_ &lt;child code&gt; exit(0); &lt;parent code&gt;
Ill. Chicago - IDS - 510
4 UNIX Basics and Command Language for a GENERIC UNIX systemSample UNIX commands will be shown in this documentation. Documentation on additional commands can be obtained using the UNIX version of the DOS help command, i.e., man, which stands for manual.
Penn State - NJJ - 103
Norm J. Jones 251 West Willow Carlisle, PA 17013 (717) 960-9490 njones2472@aol.comEDUCATION: MPA, Pennsylvania State University, Harrisburg, PA (2002) BA, English and Linguistics, Morehouse College, Atlanta, GA (1996) PROFESSIONAL EXPERIENCE: DICKINSON C
UMass (Amherst) - AY - 0405
Faculty Senate University Computer and Electronic Communications CommitteeThursday, Dec 16, 12:15 - 13:45 Room 804-08, Campus Center Draft Minutes Attendance: Bradley, Brewer(Chair), Canavan, Hood, Kunkel(Sec.), May, Stidham, Stoia, ZuckerI. Minutes
Grinnell College - CS - 362
CSC362.01, Lab 1: Exploring Compilation* Sam has an odd attitude towards labs: Primarily a chance for you to play with software (and, hopefully, learn something from doing so).* But ATTENDANCE IS EXPECTED!* I will usually start with a quick intro.* To
Iowa State - C - 12823
Food of the Week: CantaloupeCantaloupe is one of the popular melons consumed in the United States. Although referred to as a cantaloupe, the cantaloupe in the United States is in fact a muskmelon. The true cantaloupe exists in Europe and has a rough and
Rose-Hulman - EM - 406
Name _EM406 Examination III November 5, 2004Problem 1 2 4 TotalScore /30 /30 /40 /100Show all work for credit AND Stay in your seat until the end of class AND Turn in your signed help sheetName EM406 Examination IIIProblem 130 pts November 5, 2004
Washington - M - 126
% fancyheadings.sty version 1.7% Fancy headers and footers.% Piet van Oostrum, Dept of Computer Science, University of Utrecht% Padualaan 14, P.O. Box 80.089, 3508 TB Utrecht, The Netherlands% Telephone: +31-30-531806. piet@cs.ruu.nl (mcvax!sun4nl!ruu
Penn State - KTR - 5031
PSU WEBPAGE TUTORIALKeith Reisenweber EET-002S September 14, 2008Listed below are the steps taken to build a webpage using space on the Penn State University server: 1. Apply for personal web space following the links at the following web address:http:
Wisconsin Milwaukee - IE - 360
490-360 ENGINEERING ECONOMIC ANALYSISCLASS NOTES ByProfessor Umesh Saxena Industrial and Manufacturing Engineering College of Engineering and Applied Sciences University of Wisconsin-Milwaukee Milwaukee, WI 532011997, Copyright by Prof. Umesh Saxena In
Paul Quinn - MAT - 140
LASTNAME FIRSTNAME PASSWD REC EX1 EX2 FIN CG LGMAX SCORE XXXXXXXXX 20 10 10 20 100 *AVESCORE XXXXXXXXX 17.5 6.7 6.6 12.3 * *ROUTH PRIYADARSHINI 10180252 20 10 10 19 98.5 A+DARKOH CHARLES 10192021 20 9 10 18 95 A+PANNEQUIN JESSICA 10178260
UCLA - PS - 218
Expense Sheet for PS218 Research ProjectExpenses* Personnel Project Director Research Assistants Benefits (all employees)This is you - up to your discretion \$15/hour 15% of salariesSurvey Expenses Postage (bulk) \$.20/mailing up to 5 pages (surveys, ret
Georgia Tech - MATH - 3012
4 10 13 2 14 24 16 8 9 1123 5 15 22 21 20 361 71217 1918 25
Grand Valley State - ENGINEER - 214
Sheet1 Team Number 4 23 30 20 32 1 6 33 26 17 27 15 3 16 31 10 8 24 9 5 29 11 12 18 28 22 14 7 2 13 Fastest Time (seconds) 8.27 8.60 9.26 9.30 9.50 9.89 11.30 11.32 12.10 12.31 14.00 14.80 16.70 16.90 17.34 21.32 21.80 22.99 23.66 25.50 25.64 29.00 30.39
Lake County - LIFE - 240
Attention: Spring 2009Physiology (MCB) 240 Students Distribution and Range of First Quarterly Exam GradesGRADE RANGE # STU D. % OF CLASSA+ A A-&gt;90 87-89 83-867 17 243% 8% 12% Total A 23 % (48 students) 11% 14% 9% Total B 34% (69 students) 10% 14% 11
National Taiwan University - COB - 212
irrwhizInternal Rate of Return WizardThe net present value of an investment is the present value of all cash inflows less the present value of all cash outflows. For many simple problems, the net present value of an investment is equal to the present va
Iowa State - ADCF - 73169
4-H Communications ProgramsWe exchange messages in many different ways every day of our lives. We can communicate with words (verbally) without words (nonverbally), and by listening, writing and teaching. In 4-H, you can strengthen your communication ski
Johns Hopkins - MATH - 109
SECTION 11.1: SOLUTIONS TO SELECTED PROBLEMS1. Section 11.1: Infinite Series Ex. 27 1 Since k -1 k+3=3 k(k+3) , nthe nth partial sum of the seriesn 1 k=1 k(k+3)issn =k=11 1 = k(k + 3) 3(k=11 1 - ) k k+31 1 1 1 1 1 1 1 1 1 1 = - + - + - + -
Johns Hopkins - MATH - 109
SECTION 11.2: INTEGRAL TEST/ COMPARISON TESTEx. 1 We compare Justification: k k=1 k3 +1and 1 k=1 k2 .k k3 +1 1 k k2lim= limk3k3 1 =1=0 = lim +1 1 + 1/k 3Therefore:k=1k k3 + 1k=11 k2and since the latter is convergent (p-series with p &gt; 2), o
UVA - FACULTY - 438
FREN 438: La France Contemporaine Printemps 2008Analyse de progrs Ecrivez quelques paragraphes (250 500 mots) o vous analysez votre progrs pendant ce semestre travers le projet de groupe. Si possible, rpondez aux questions suivantes. 1. Dans quelle mesur
Penn State - GEOSC - 561
GEOSCI 561: Lab #2 (Carbonate equilibria) Due: Friday, Jan. 30 1. Find the CO2 partial pressure, pCO2, for an atmosphere in equilibrium with a surface ocean at the current global mean temperature of 15oC. Also, find the number of moles of carbon in the at
Colorado State - CHM - 343
C343 Fall 2001 Prof. KennanLecture Problems 8/20/011. Identify which molecules below are electrophiles and which are nucleophiles. For each, draw curved arrow(s) depicting reaction with a generic nucleophile (N ) or electrophile (E+), as shown.for nucl
Colorado State - CHM - 343
C343 Fall 2001 Prof. KennanAnswers to 8/22 Problems1. This is standard electrophilic aromatic substitution except using a carbocation generated from an alkene as the electrophile. Note that an excess of benzene would probably required so that it can rea
Cal Poly - MILESTONE - 205
CSC205-S05-Milestone 6 ExcerptPage 9- Excerpt from Milestone 6 Example, Showing Two Completed Scenarios -2.2. Scheduling an Individual Appointment This introductory scenario shows an individual user scheduling two simple appointments. Appointment schedu
Lake County - CONF - 134
Is the Local Basis Really Local? by Mark R. Manfredo and Dwight R. SandersSuggested citation format: Manfredo, M. R., and D. R. Sanders. 2006. Is the Local Basis Really Local? Proceedings of the NCCC-134 Conference on Applied Commodity Price Analysis, Fo
Carnegie Mellon - CIL - 0001
# 1. Top of second highest peak# 2. Bottom left of pyramid on 1.# 3. Bottom right of pyramid on 1.# 4. Top left of wood face under 1.# 5. Top right of wood face under 1.# 6. Bottom left of wood face under 1.# 7. Bottom right of wood face under 1.#
University of San Francisco - CS - 682
Distributed Software DevelopmentMultiagent Systems IChris Brooks Department of Computer Science University of San FranciscoDepartment of Computer Science - University of San Francisco p.1/?19-0: What is an agent? What are MAS/DAI problems? Communicati
Millersville - CS - 475
CS475 3D Game Programming and Computer Animation Roger W. Webster, Ph.D. Department of Computer Science XNA Game Programming Assignment OneMake a simple fly around shooter example with the MU starter App. Download it here: http:/cs.millersville.edu/~webs
Bryn Mawr - CS - 120
CMSC 120: Visualizing Information Chapter 1: Quick Start A Short History of Visualization . Visualization and Computers . Elements of Programming . The PYTHON Programming Language and Environment . Let's Get Visualizing! These first few activities show yo
UCF - COP - 3502
COP 3502 Computer Science - 1 Lab Session 11. Write a while loop which asks the user to key in an integer, adds 10 to the integer and prints the value. The while loop should terminate if the user types in a number more than 100. 2. An array GRADES of siz
Dartmouth - ENGS - 027
Engineering Sciences 27 - Discrete and Probabilistic SystemsUsing MATLAB for Stochastic Simulation. 3. Useful functionsEric W. HansenHere are some Matlab functions that are particularly useful in this class. Type help &lt;function&gt; to see what each one do
Oregon - M - 243
Quiz # 6 May 20, 2008Name: Directions: Make sure to read each problem carefully. Make sure to show all of your work to receive full credit. Problem 1. A Martian scientist wants to challenge the notion that the average adult female Martian height is 62 qu
UNI - CS - 142
Team #:_ Absent:Return To:_ 9-21-060. Consider the following MIPS loop to add a constant/scalar in \$s2 to every element in an array. Suppose that \$s1 contains the starting address of the array, and \$t2 contains the address after the loop.\$s1\$t2a) Com
Purdue - CE - 498
CE BREAKFASTTO: Civil Engineering Faculty CC: Max Bales, Cindy Lawley, Mark Baker FROM: Robert Frosch DATE: September 26, 2008CE HOMECOMING BREAKFAST SATURDAY 10-25-08, 8 TO 10 A.M.Day Before: Prezzi, Salgado Fricker, Lyn, Shan Abraham, Olek, Santagata
UMass (Amherst) - LING - 610
[Sample Squib] Proper names as predicatesChris Potts, Ling 610: Semantics and Generative Grammar, Fall 2004 November 222Why mere type-shifting is not the answerPartee (1987, 2000) develops and employs a theory of type-shifting that depends, in part, o
Eastern Washington University - TECH - 368
Using a Simple Web Page Editor (Netscape Composer).Netscape has a detailed help screen that gives you summary and step-by-step instructions. Use it! Parts of the following notes were taken from the help screens.The Basic Process:1) Choose File -&gt; New D
UCSD - ECE - 222
ECE 222AAntennas and Their System ApplicationsHomework #3 - Due Tuesday November 13, 2007 in Class.Problem 1 (This is as real as its get. Use Matlab to do this problem and add a lot of vectors): Consider a 32-element dipole array on the z-axis with elem
Illinois State - COE - 084
DEPARTMENT OF CURRICULUM AND INSTRUCTION ILLINOIS STATE UNIVERSITY COURSE SYLLABUS C &amp; I 110 Section 01 Course: Introduction to Multicultural Education Credit: 3 Semester Hours Schedule: Tuesdays, 5:30-8:20 p.m. DeGarmo Hall 206 Instructor: Camille Taylor
UMass (Amherst) - LING - 113
Ling 113 Language and Diversity in the U.S. Selkirk Fall 2005 Final Essay What similarities and differences are there in variation in the use of regional dialects and the use of African American English? Consider both withinindividual variation and betwee
Arizona - A - 204
Title: Impact on Earth. Subject(s): COMETS - Observations; JUPITER (Planet)Source: Sky &amp; Telescope, Feb95, Vol. 89 Issue 2, p100, 1p, 1cAuthor(s): Levy, David H.Abstract: Cites the impact of the collision of Comet Shoemaker-Levy 9and Jupiter on the i
North Dakota State University - G - 410
GEOLOGY 410 - POROSITY AND PERMEABILITY % POROSITY = (Volume of pores/Volume of rock) x 100 Typical porosities range 5 - 25 % Total versus effective porosity (amount of mutually interconnected pore space) PERMEABILITY = ability of a liquid or gas to flow
Arizona - A - 204
Title: A Chip off the Doomsday Rock.Subject(s): DINOSAURS; EXTINCT animals; ASTEROIDS - Collisions withEarth; KYTE, Frank; NATURE (Periodical)Source: Time, 11/30/98, Vol. 152 Issue 22, p99, 1/3p, 1cAuthor(s): Jaroff, LeonAbstract: Speculates on what
Western Kentucky University - TXT - 102
July 30, 2006 Mel Gibson Apologizes for Tirade After Arrest By ALLISON HOPE WEINER MALIBU, Calif., July 29 The film star and director Mel Gibson apologized Saturday for belligerent behavior and for saying what he called despicable things that he does
University of Iowa - DRX - 400
BSMS SHIM keypad cfw_Hr20DRX-400&amp;in TopSpinDPX-300cfw_DRX-400 WOBB Tune Probe SPIN `ON' Shim Sample Z Z2 Z cfw_Z2 if needed cfw_Z if needed.etc. STD BY `ON'1. Press Z button 2. Turn knob &amp; observe whether Lock signal goes higher or lower cfw_adjust
Western Kentucky University - TXT - 102
Justice for Gold Train VictimsAugust 9, 2004Over the past decade, this nation played a laudable role inhelping to persuade European governments and companies,including recalcitrant Swiss banks, to live up to theirmoral duty to settle restitution cla
UVA - LAW - 0708
Procedural Common Law Abstract Debates about the common lawmaking power of the federal courts focus exclusively on substantive common law. But federal common law is not limited to matters of substance; it reaches matters of procedure as well. Federal law
Iowa State - NR - 75231
Extension to FamiliesAt Work.At HomeBuilding an Emergency FundEmergency savings accounts are vital when facing unplanned expenses such as a car or home repair. The purpose of the fund is to sock away three to six months' living expenses. By putting awa
St. Anselm - NR - 13773
Enrollment (Fall 2008) Full-Time . 1,870 Part-Time . 30 TOTAL. 1,900 Student Body Gender Female: .58% Male: .42% Freshman Admission, Class of 2012 Applications: . 3,835 Enrolled: . 501 Transfer Admission, Fall 2008 Applications: . 81 Enrolled: . 30 Geogra
SUNY Albany - CSI - 400
CSI 400/500 Spring 2009Prof Robert EkblawHomework Assignment #2Due:Monday, February 23rd 11PMDescriptionCreate a pseudo-kernel to handle scheduling. Your scheduler kernel will then be used to manage an imitation local user network. The network has
Kettering - IME - 100
IME 100 - INTERDISCIPLINARY DESIGN AND MANUFACTURING POWDER PROCESSING AUGUST 4, 2008Reading Review and Class Preparation This should be filled out prior to class. Key Concepts to Be Discussed in Class:Questions About Subject Matter for Class Session:O
Lake County - CONF - 134
Technical Analysis in Commodity Markets: Risk, Returns, and Value by Matthew C. RobertsSuggested citation format: Roberts, M. C. 2003. Technical Analysis in Commodity Markets: Risk, Returns, and Value. Proceedings of the NCR-134 Conference on Applied Com
Kentucky - GMSWAN - 575
Animation: Can It Facilitate? 0 Address correspondence to: Barbara Tversky Department of Psychology Jordan Hall, Bldg #420 Stanford, CA 94305-2130 650.725.2440 bt@psych.stanford.eduAnimation: Can It Facilitate? 1 Animation: Can It Facilitate? Barbara Tve
Rochester - NEW - 531
Math 531 Tom Tucker NOTES FROM CLASS 9/24 Back to showing that OK is Dedekind. All we need is to do is show that OK is Noetherian and one-dimensional. For R-modules (R a ring), it is easy to see that M satisfies the Noetherian ascending chain condition if