Economics 500 – Problem Set #3 Consider a firm producing an output Q using the two inputs “labor” (L) and “capital” (K) according to the production function Q = K.5L.5 (i.e.‚ the amount of output produced Q is equal to the square root of K times the square root of L). Suppose that the firm is in a short-run situation in which K is fixed at one unit (K = 1) but labor is variable. Suppose that the user cost of capital‚ r‚ is $48 for each unit of K and that the wage rate‚ w‚ the cost of one unit
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Problem Set 3 ECON 973 Fall 2012 Fluctuations: Discrete Time Models Ben Brewer 12/10/12 1. a. Given this two-period problem of labor supply maxc1 ‚n1 ‚c2 ‚n2 ln[c1 ] + ln[1 − n1 ] + βln[c2 ] + βln[1 − n2 ] subject to the intertemporal budget constraint c1 [1 + r] + c2 = w1 n1 [1 + r] + w2 n2 Dividing each side by [1+r] for convenience gives c1 + c2 w 2 n2 = w 1 n1 + 1+r 1+r We can solve for consumption and labor supply in each period (c1 ‚ c2 ‚ n1 ‚ n2 ) by first setting up the Lagrangian
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Inflation‚ Unemployment and Poverty: Still Major Problems of Pakistan Zoha Siddique Forman Christian College University Since Pakistan came into being‚ it’s going through hard times. From newly born country to getting sixty four year old country‚ sometimes it has given sacrifices and sometimes remained victim of inapt political system. For the long time‚ it is facing number of challenges and conspiracies which has weakened its foundations and so is the structure. Therefore‚
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Patrick Combs’ Major in Success proves to be an extraordinarily valuable tool for college students interested in deriving the most from their college experience. The book contains ample advice for facilitating a sometimes confusing time as an undergraduate student while managing to fire up dreams that can translate into amazing post-graduation opportunities‚ specifically jobs. Combs divides the book into sections‚ which include the Dream Job and the Action Plan. Each of these two parts encourages
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Confederation Confederation was an important part of our history. Without confederation Canada would not even be close to where it is today. Confederation solved many problems Canada was facing at the time such as‚ political deadlock‚ threats from other forces and a railway that was needed. Political deadlock was a major problem in the 1800’s. Since each party had an equal amount of representatives‚ no decisions could be made because each party had an equal say in the government. Canada east
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Workshop 1 – Chapters 1-3 Exercise 2-2 (15 minutes) | | Product Cost | Period Cost | 1. | The cost of the memory chips used in a radar set | X | | 2. | Factory heating costs | X | | 3. | Factory equipment maintenance costs | X | | 4. | Training costs for new administrative employees | | X | 5. | The cost of the solder that is used in assembling the radar sets | X | | 6. | The travel costs of the company’s salespersons | | X | 7. | Wages and salaries
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Running head: MAJOR DEPRESSIVE DISORDER Major Depressive Disorder LaTisha Green Cameron University Abstract At one time or another one has felt depressed‚ sad‚ lonely‚ or misunderstood. Being depressed is normal for everyone at one point of time and is a natural reaction to a loss‚ difficulties in life‚ and a deflated self-esteem. When this feeling of sadness becomes intense‚ lasts for a long period‚ and it prevents one from living a normal life is when the depression needs to be looked
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MEMO TO: Dr. Norman E. Pence FROM: Mary Nicole Porter DATE: September 11‚ 2013 SUBJECT: Chapter 2 Case Problem 1: Workload Balancing Digital Imaging: Balancing Photo Printer Production Digital Imaging‚ a company that produces photo printers‚ recently introduced two models of printers into the average consumer market: the DI-910‚ and the more sophisticated and faster DI-950. Analysis shows that management can expect profit contributions of $42 for each DI-910 and $87 for each DI-950
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gumball machine with three colors‚ red‚ white‚ and blue and again her twins want the same color. The most Ms. Hernandez might have to spend is 4 cents. This is because she could get the following: Pennies Color 1st Red 2nd White 3rd Blue 4th White 3. Seven cents is the most Mr. Hodges might have to spend to get his triplets the same color gumballs at the same three-color gumball machine as Ms. Hernandez. This is because he could get the following: Pennies Colors 1st penny Blue 2nd penny Red
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The Immigration Problem The question is have we given up on turning our immigrants into Americans (Brimelow 30). Undoubtedly‚ all the hipped-up controversial rhetoric will deter the immigrant population from becoming legal. It has become such a hassle to go through the process that many people choose to cross the border without permission. Before 1960‚ eighty percent of the immigration to America came from Europe. Since 1960‚ however‚ eighty percent has come from places other than Europe (Wishard
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