Solutions to Problem Set VII (EC501)
XIAO YANG
Exercise 1
Part a
Substitute the production function into the resources constraint
Y
X
C
D 66:
3
3
Rearrange to get PPF
Y C X D 198:
It is clear that the marginal rate of transformation
MRT D
1
3
MPLy
DD
1
3
Politics and the English Language
George Orwell 1946
Most people who bother with the matter at all would admit that the English
language is in a bad way, but it is generally assumed that we cannot by conscious
action do anything about it. Our civilization
EC 501: Problem Set 6
(Due in class on Thursday, October 15)
1.
The Widget Co. can produce widgets according to the formula:
q = 5K L
where q is the output of widgets, and K, L are the quantities of capital and labor used.
(a) Are there constant, increasi
Chapter 3: Discrete Random Variables and Their Probability Distributions
31
Instructors Solutions Manual
Chapter 3: Discrete Random Variables and Their Probability Distributions
3.1
P(Y = 0) = P(no impurities) = .2, P(Y = 1) = P(exactly one impurity) = .7
8
Chapter 2: Probability
Instructors Solutions Manual
Chapter 2: Probability
2.1
A = cfw_FF, B = cfw_MM, C = cfw_MF, FM, MM. Then, AB = 0 , BC = cfw_MM,
cfw_MF, FM, A B =cfw_FF,MM, A C = S, B C = C.
2.2
a. AB
2.3
2.4
a.
b.
b. A B
c. A B
d.
( A B ) ( A B)
Chapter 4: Continuous Variables and Their Probability Distributions
59
Instructors Solutions Manual
Chapter 4: Continuous Variables and Their Probability Distributions
y 1
1 y 2
2 y 3
3 y 4
y 4
0.0
0.2
0.4
F(y)
0.6
0.8
1.0
4.1
0
.4
a. F ( y ) P(Y y ) .7