Macroeconomics Exam Review 8

Macroeconomics Exam Review 8 - 1.89 Assume is bounded, and...

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: 1.89 Assume is bounded, and let = ( ). Choose any . For all , ( , ) < + 1. Therefore, ( , + 1). is contained in the open ball ( , + 1). Conversely, assume is contained in the open ball ( ). Then for any , ( , ) ( , ) + ( , ) < 2 by the triangle inequality. Therefore ( ) < 2 and the set is bounded. 1.90 Let ( ). For every , ( , ) < and therefore ( , ) ( , ) + ( , ) < + = 2 so that 2 ( ). 1.91 Let y . For any > 0, let y = y be the production plan which is units less in every commodity. Then, for any y ( y ) ( y , y ) < for every and therefore...
View Full Document

This note was uploaded on 01/16/2012 for the course ECO 2024 taught by Professor Dr.dumond during the Fall '10 term at FSU.

Ask a homework question - tutors are online