Partial Derivative Sample Problems: Intermediate Microeconomics NIU Fall 2016
Given the following functions, solve for the partial derivatives of each function with respect to X and Y.
Answers are pro
Chi-Square Test
Observed Frequencies
Hotel
Golden Palm Palm Royale
Palm Princess
Yes
128
199
186
No
88
33
66
Total
216
232
252
Total
513
187
700
Expected Frequencies
Hotel
Choose Again?
Golden Palm Pa
Chapter 1: The Big Ideas
Free
Obama Makes Case for
Community College
President Says Access Should Be as Cost-Free and Universal as High School
WSJ 1/10/15
(What does Cost-Free Mean?)
Here in America,
Ch 18
Marginal product of labor (MPL): the increase in a firms revenues created by hiring an additional laborer.
A firm is willing to hire a worker when the marginal product of labor is greater than t
If a country is producing on its stable PPF, to produce more of one good, it must:
Incorrect: employ more of its available inputs.
employ more of its available inputs.
Incorrect: also produce more of
An increase in quantity supplied is:
Incorrect: a shift in the demand curve down and to the left.
a shift in the demand curve down and to the left.
Correct: a movement along a fixed supply curve cause
`Ch. 2 Foundations
Why trade? Because there are gain from trade. We are better off with trade than without.
History of Trade:
Mercantilism
-The mercantilists 1500-1800
-They sought to answer how natio
Econ 360 Fall 2016 NIU Simple introduction and review of calculating marginal utility using the idea
of a derivative.
Calculating marginal utility can be done by taking a derivative.
Gist Calculating
Chapter 1- Models=simplified versions of reality
Exogenous variables- variables that will be determined outside of a model
Endogenous variables- determined within a model
Price and quantity are endoge