Problem set 2.2 This question Is mainly concentration on the price changed effect. As the price raise ‚what is the changed to the quantity‚ turnover ‚and the market equilibrium. And the assumption are as following: The demand of the concert remain unchanged‚ the supply of the concert also unchanged( which consist on 3 concerts) ‚so the supply curve is vertical. In the question‚ the concert price in 2005 is $500 and all the tickets have been sold out which are 12000seats. The turnover is 12000seats
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OPIM Assignment 4 1. Cu = 24-11 = $13 Co = 11-7 = $4 Critical ratio = 13/(13+4) = 0.7647 μ = 30‚000 σ = 10‚000 Using normal distribution function (=norminv(0.7647‚30000‚10000))‚ the optimum order quantity is 37‚216 jerseys to maximize profit. 2. Quantity = 32‚000 First‚ we normalize the order quantity to find the z-statistic z=Q-μσ=32‚000-25‚00010‚000=0.7 We then look up the standard normal loss function. The expected lost sale is given by. Lz=0.1429 Therefore‚ the expected lost
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Econ 122A Problem Set 6 Name(Print)______________________ Due in class on March 14 UCI ID_____________________________ 1. In class‚ we have talked about the following simple wage equation wage = α + β female + u ‚ where female is a dummy that is equal to 1 if female‚ and 0 otherwise. ˆ ˆ Given the OLS estimates α and β for the above model‚ what are the OLS estimates ˆ ˆ for a model with a male dummy instead of a female dummy
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Problem Set 3 Name Problem Set 3 is to be completed by 11:59 p.m. (ET) on Monday of Module/Week 6. 1. Data for the market for graham crackers is shown below. Calculate the elasticity of demand between the following prices. Price of crackers Quantity Demanded (per month) $3 80 $2.5 120 $2 160 $1.5 200 $1 240 $1.00 - $1.50: ___$-0.45________________________________ $1.50 - $2.00: ____$_-0.77______________________________ $2.00 - $2.50: _____$_-1.28_____________________________ $2.50 - $3.00: ____$_-2
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Week 4 Homework Solutions: Problem Set 4 1. Determining Profit or Loss from an Investment. Three years ago‚ you purchased 150 shares of IBM stock for $88 a share. Today‚ you sold your IBM stock for $103 a share. For this problem‚ ignore commissions that would be charged to buy and sell your IBM shares. a. What is the amount of profit you earned on each share of IBM stock? The profit on each share of IBM stock was $15. $103 priced when each share was sold‚ $88 priced when each
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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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FIN 350 Prof. Porter Problem Set 4 1. Describe what happens to the total risk of a portfolio as the number of securities is increased. Differentiate between systematic risk and unsystematic risk and explain how total risk and systematic risk are measured. As the number of securities increases‚ the total risk of the portfolio decreases. This decrease occurs due to the benefits of diversification which is the process of acquiring a portfolio of securities that have dissimilar risk-return characteristics
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Problem Set 1 Name:______________________ Problem Set 1 is to be completed by 11:59 p.m. (ET) on Monday of Module/Week 2. 1. Based on the information provided for the market for video games‚ answer the following questions. PRICE Q DEMANDED Q SUPPLIED $50 5 9 $45 7 7 $40 9 5 $35 11 3 $30 13 1 a) Draw and properly label the demand and supply graphs (this means you must label the axes and any lines you include on the graph). b) What is the equilibrium price and quantity? b.) PRICE:
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Homework Problem Set 4 1. Because Q=12-2P inverse demand P = -0.5 Q+6 For “half price” case‚ P = 2.5‚ Q=7 consumer surplus = 7*(6-2.5)/2 = 12.25 For “buy one‚ get one free” case‚ when original P = 5‚ Q = 4 instead of 2‚ total benefit TB = (4+6)*4/2 = 20 On the other hand‚ payment is 2*5=10 dollars‚ so consumer surplus will be = 10 Thus “half price” gives more surplus. 2. cost minimizing manner‚ marginal product of typewriter/marginal product of word processor=rent of typewriter/rent
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Math – 213 Problem Set Solve each of the following problems. 1. A coin is tossed four times. What is the probability that at least 2 heads will occur? 2. A pair of dice is rolled. What is the probability that the sum is equal to the following? a. 5 b. 10 c. at most 9 d. at least 8 3. A chip is drawn at random from a jar containing 8 red‚ 2 blue‚ 3 green‚ 4 yellow‚ and 3 white chips. Determine the probability that it is: a. Red b. Yellow or red c. Not orange 4. In a graduating class of 300 students
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