Q: If a demand curve is elastic, total revenue falls when the price rises discuss it in detail.
Demand Curve:
The demand curve is a graphical presentation in which relationship between price and
quantity demanded is planted. The elasticity of demand is wh
Q. No: 1
The CobbDouglas production function is given as
Q= A K L
It can be converted into linear equation by taking log on both sides.
( log ) Q=( log ) A+ ( log ) K+ ( log ) L
Q. No: 2
a.
If the results of our estimated model shows that
X 2 X 3 , are c
Eco 606BB (summer 16) Assignment #2
Q. No: 1
A firms production function for a particular good (Y) shows the maximum amount of the good
that can be produced using alternative combinations of inputs (for example, capital (K) and labor
(L)
Y =F (K , L)
If t
Q. No: 1
The Empirical Rule (689599.7) says that if the population of a statistical data set has a normal
distribution (where the data are in the shape of a bell curve) with population mean and standard
deviation
, then following conditions are true:
Ab
Q1 a) Using any circuit analysis technique, calculate Vo for the circuit shown in figure 1.
Solution:
Simplifying the phasor circuit by adding series impedances, we get:
8+6j
+
o
4 45
Vx
2
2Vx
j
4+3j

Now, combining the parallel impedances, we have:
Z
ESSAY: LABOR MARKET EQUILIBRIUM AND EFFECT OF INCREASE IN WAGES
ON THE USE OF LABOR AND CAPITAL
INTRODUCTION
A profit maximizing firm always chooses that level of laborcapital combination which
maximizes its output and minimizes the cost. The firms deman
Game theory is "the study of mathematical models of conflict and cooperation between intelligent
rational decisionmakers."[1] Game theory is mainly used in economics, political science,
and psychology, as well as logic, computer science, biology and poke
EXECUTIVE SUMMARY
In the diversifying world where people preferences and choices are rapidly changing, business
cannot achieve their targets of high profit through the sale of the product only. Therefore, they
need to adopt other methods that help in achi
Pareto efficiency, or Pareto optimality, is a state of allocation of resources in which it is impossible
to make any one individual better off without making at least one individual worse off. The term is
named after Vilfredo Pareto (18481923), an Italian
In economics, supply is the amount of something that firms, consumers, laborers, providers
of financial assets, or other economic agents are willing to provide to themarketplace. Supply is often
plotted graphically with the quantity provided (the dependen
In economics, demand is the utility for a good or service of an economic agent, relative to his/her
income.[citation needed] (Note: This distinguishes "demand" from "quantity demanded", where demand is a
listing or graphing of quantity demanded at each po
In economics, economic equilibrium is a state where economic forces such as supply and
demand are balanced and in the absence of external influences the (equilibrium) values of economic
variables will not change. For example, in the standard textbook mode
Derive Aggregate demand curve with the help of The Basic Model of Aggregate Demand and
Aggregate Supply.
The Basic Model of Aggregate Demand and Aggregate Supply:
The basic model of aggregate demand and aggregate supply is used by the economists to
show t
Q: Inflation is good or bad for economy, Explain.
Inflation
Inflation is the state where general level of prices of goods and services is sustainably increased.
In this state value of currency does not remain the same. Currency value is observed in terms
Q. No: 1
a)
d
Q =2222 p +0.5 Y
s
Q =15+ 4 p2CI
where Y =30CI=1 0
Now we solve quantity demand first
Qd =222 p +0.5(30)
d
Q =222 p +15
d
Q =372 p
Now we will solve it for quantity supply
Qs=15+ 4 p2(10)
s
Q =15+ 4 p20
s
Q =5+ 4 p
At equilibrium
Qd =Q s
372