enables the decision maker to construct a store of optimal size. A production function gives the most efficient technical relationship between inputs and output for any given technology The specific form of the production for used here is the Cobb-Douglas production function. The equation fitted is of the form Q = A Kα Lβ ℮ Where Q is the output‚ A is the technology‚ K is the capital and L is the Labor ‚ α and β are the elasticities. The study uses cross-sectional data from the year 1972 for
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Proceedings of the Eastern Asia Society for Transportation Studies‚ Vol. 5‚ pp. 592 - 607‚ 2005 Application of DEA and SFA on the Measurement of Operating Efficiencies for 27 International Container Ports Lie-Chien Lin Associate Professor Department of Logistics Management National Kaohsiung First University of Science and Technology 2‚ Juoy Rd. Kaohsiung‚ Taiwan Fax: +886-7-6011040 E-mail: lclin@ccms.nkfust.edu.tw Lih-An Tseng Warehouse Officer Research and Development Department
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objective the purpose of this paper is to answer the question whether EMS implementation can improves a firm’s performance or not by using panel data from Japanese manufacturing firms during 1996-2007. The theoretical model used is derived from the Cobb-Douglas production function and the inverse demand function‚ and predict that it increases firm value added after implementing EMS through the rise of demand and improvement in productivity. 2. The Approach A simple theoretical economic model is
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Practice Problems: Chapter 2‚ Chapter 3‚ and Chapter 4 Chapter 2: 1). Consider an economy that produces only hot dogs and hamburgers. In the following table are data for two different years. 2010 2015 Good Quantity Price Quantity Price Hot Dogs 200 $2 250 $4 Hamburgers 200 $3 500 $4 a) Using 2010 as a base year‚ compute the following statistics for each year: nominal GDP‚ real GDP‚ and GDP deflator. Please show your work to get full credit.
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Recall that in the Harrod-Domar‚ Kaldor-Robinson‚ Solow-Swan and the Cass-Koopmans growth models‚ we have maintained‚ either explicitly or implicitly‚ that technical change is "exogenous". In the Schumpeter version‚ this was not true: we had "swarms" of inventors arising under particular conditions. The Smithian and Ricardian models also had technical change arising from profit-squeezes or‚ in the particular case of Smith‚ arising because of previous technical conditions. Allyn A. Young (1928)
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GDP deflator) - a fixed-weight price index such as the CPI b. What was the inflation rate between 2000 and 2010? Compare the results obtained using the GDP deflator and the CPI. 3. Suppose that an economy’s production function is Cobb-Douglas with parameter α=0.3. a. Calculate the fractions of income that capital and labor receive. b. Suppose that immigration increases the labor force by 10 percent. What happens to total output (in percentage)? What happens to the real wage
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Managerial Economics School of Distance Education Bharathiar University‚ Coimbatore - 641 046 Author: Atmanand Copyright © 2007‚ Bharathiar University All Rights Reserved Produced and Printed by EXCEL BOOKS PRIVATE LIMITED A-45‚ Naraina‚ Phase-I‚ New Delhi-110028 for SCHOOL OF DISTANCE EDUCATION Bharathiar University Coimbatore-641046 CONTENTS Page No. UNIT-I Lesson 1 Lesson 2 Lesson 3 Lesson 4 Lesson 5 Lesson 6 Lesson 7 Managerial Economics: Definition
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econ.hku.hk/~wsuen/teaching/micro/dual.html b. Given a direct utility function‚ how will you derive the indirect utility function? 1. c. Explain Roy’s identity. Section B 3) Derive the elasticity of substitution for the Cobb-Douglas production function q ’ f (K‚ L) ’ AKaL1−a 4) What is meant by externalities? How can the problem of externalities be solved? Explain the Coase’s Theorem. 5) Explain Arrow’s Impossibility Theorem‚ giving the various assumptions. 6) What is
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and the cost of rental rate of capital is $10 per unit. What is the profit-‐maximizing quantity of labor? ( recall that for a Cobb-‐Douglas production function Q =F(K‚ L)= KaLb ‚ MPK= aKa-‐1Lb and MPL=bKaLb-‐1) 3. What is the marginal rate of technical substitution between
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CLICK TO DOWNLOAD ECO 550 Midterm Exam 1. Shirking of one’s duties is often encountered in team production settings because 2. Recently‚ the American Medical Association changed its recommendations on the frequency of pap-smear exams for women. The new frequency recommendation was designed to address the family histories of the patients. The optimal frequency should be where the marginal benefit of an additional pap-test: 3. A Real Option Value is: 4. The primary objective of a for-profit
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