MW 4:00 – 6:30 p.m. Krannert 469 zhou406@purdue.edu Administrative Assistant: Bree Miller bree2@purdue.edu In this class we review concepts from intermediate microeconomic theory that managers can use to become more effective decision makers. As we review the economic tools managers use in their decision making process (profit maximization‚ cost minimization‚ pricing strategies‚ etc.)‚ you will continue to grow in
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http://www.socialresearchmethods.net/kb/sampaper.php Communication Theory of Secrecy Systems? By C. E. SHANNON 1 INTRODUCTION AND SUMMARY The problems of cryptography and secrecy systems furnish an interesting application of communication theory1. In this paper a theory of secrecy systems is developed. The approach is on a theoretical level and is intended to complement the treatment found in standard works on cryptography2. There‚ a detailed study is made of the many standard types of codes
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The American poet‚ E. E. Cummings wrote verses with an experimental style that presented romantic attitudes‚ and also dabbled in playwriting and painting. His poems crafted physical objects that show a fresh way of looking at reality. Cummings’ unique style of romantic transcendentalism is innovative‚ modern and visual. The visual aspect was unusual to other poets at the time he debuted. The way his poems are laid out on the paper are important‚ as was the unusual way he used punctuation and capitalization
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ECO 5305 Final Exam Answers underlined in yellow 1. Fixed costs include: a. variable labor expenses. b. output-related energy costs. c. output-related raw material costs. d. variable interest costs for borrowed capital. 2. Marginal cost equals: a. average variable cost at its maximum point. b. the change in total fixed cost divided by the change in quantity. c. the change in total variable cost divided by the change in quantity. d. total cost divided by quantity
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hypothesis. Then‚ accepting‚ rejecting‚ and modifying the hypothesis‚ based on these comparisons. Finally‚ continuing to test the hypothesis against the facts. If favorable results accumulate‚ the hypothesis evolves into a theory. A very will tested and widely accepted theory is referred to as an economic law or an economic principle. An economic principle is a statement about economic behavior or the economy that enables prediction of the probable effects of certain actions. 7) What are economic
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price relationship‚ set MR= d(TR) / dQ = d(PQ)/dQ=P So‚ MR=P. For MC‚ MC= d(TC)/dQ = 80 + 40 Q C. What is the prevailing Eq.Q and P at optimum? set MR = MC 400= 80 + 40 Q‚ --> Q=8‚ since P=400 D. Total Revenue? Ans TR = P*Q= 400 * 8 = 3200 E. Continue to operate or shut-down? AVC= V(Q)/Q Ans P>AVC‚ 400>240. Operate F. Implications of the profit maximizing price and entry or exit in the long-run? Compute π=TR-TC If profit expect Entry in long-run‚ if loss expect exit. Long-Run Economic
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Weekly Homework 9: Detection of Heteroskedasticity 1. Heteroskedasticity (1 point each) 1) Carefully explain the difference between pure and impure heteroskedasticity and their consequences in OLS. Answer: -Pure heteroskedasticity is caused by the error term of the correctly specified equation. Impure heteroskedasticity is caused by a specification error such as an omitted variable. -Pure heteroskedasticity does not cause bias in the coefficient estimates. However‚ it typically causes
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ECON 304 HOMEWORK # 5 due: June 14 in class 1. Numerical exercise # 6‚ Chapter 7‚ page 273‚ Abel & Bernanke a. We know that ηy = 2/3 and ηi = −0.1. ∆Y /Y = 0.045 = 4.5% ∆i/i = 0 πe = 0 Hence‚ if the central bank wants zero inflation over the next year‚ it should choose a growth rate of nominal money supply such that: ∆M ∆Y = ηy = 2/3 ∗ 0.045 = 0.03 = 3% M Y b. Velocity is defined as: V = Nominal GDP PY = Nominal Money Stock M Hence: ∆P ∆Y ∆M ∆V = + − V P Y M If the central bank follows the
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na‚ but Cadillac-branded vehicles are distributed in 34 additional markets worldwide. Historically‚ Cadillac automobiles have always held a place at the top of the luxury field within the United States.[2] In 2012‚ Cadillac’s U.S. sales were 149‚782 vehicles.[3] Cadillac is among the oldest automobile brands in the world‚ second in America only to fellow GM marque Buick. The firm was founded from the remnants of the Henry Ford Company in 1902‚ almost 9 years before Chevrolet.[4] It was named after Antoine
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103 Midterm Answer (Fall 09) Q1: 1a) Economic growth occurs when a country chooses to allocate some of its resources to the production of capital goods‚ instead of consumption goods. This expands the resource base‚ allowing the country to produce more goods and services thus furthering economic growth. Economic growth can also occur when more productive technology is used. Technology makes the production process more efficient so more goods and services can be produced without increasing the
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