production function f(x) = x2 . The production set is Y = {(y‚ −x) : y ≤ x2 } which is certainly not convex‚ but the input re√ quirement set is V (y) = {x : x ≥ y} which is a convex set. 1.2 It doesn’t change. 1.3 1 = a and 2 = b. 1.4 Let y(t) = f(tx). Then dy = dt so that 1 dy 1 = y dt f(x) 1.5 Substitute txi for i = 1‚ 2 to get f(tx1 ‚ tx2 ) = [(tx1 )ρ + (tx2 )ρ ] ρ = t[xρ + xρ ] ρ = tf(x1 ‚ x2 ). 1 2 This implies that the CES function exhibits constant returns to scale and hence has an elasticity
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(page 278) This quote is from Paddy Clarke Ha Ha Ha by Roddy Doyle. Paddy Clarke Ha Ha Ha is about a 10-year-old boy named Patrick Clarke‚ but everyone calls him Paddy. This books ’ setting is in 1968 ’s Dublin‚ Ireland. At the beginning of the book‚ Paddy is a cruel boy; he enjoys the Three Stooges‚ Geronimo‚ Father Damien and the Lepers‚ and also his favorite soccer player George Best. Paddy has challenges in life just like every other 10-year-old boy he has problems at home‚ but when he ’s with his
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1. Conceptions 1.1. Demand The demand in economics is the amount of a product that consumers are willing and able to purchase at each specific price in a set of possible prices during some specified period of time (Jackson et al.‚ 2004). In addition‚ it is a relationship between two economic variables which are the price of a particular good and the quantity of the good that consumers are willing to buy at that price (Taylor and Frost‚ 2002). Demand also can be described by a table or a
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M. Butterfly David Henry Hwang’s play M. Butterfly’ is about a French diplomat Rene Gallimard who is in love with Chinese opera star‚ Song Liling; who deceives him by hiding the fact that she is a man and also a spy of Chinese government. One of the main characters of the play is Song and she is the material for desire for Gallimard. This desire of Gallimard to possess Song is a great example of materialism. The play also explains the concepts of feminism‚ cultural context‚ metaphor‚ dramatic structure
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forward velocity of 60 m/s. The oscilloscope record of the deceleration is shown. Determine the approximate velocity of the particle at t = 9 s. [answer: -58 m/s] 2. A car can decelerate at 0.8 ‘g’ on a certain road. Find the total emergency stopping distance measured from the point where the driver first sights the danger for a speed of 100 km/hr. The time taken for the driver to identify the hazard‚ decide on a course of action‚ and apply the brakes is 0.75 s. [Answer: 70 m] 3. An underground train
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DO WE MEAN BY MONEY SUPPLY[ few definitions] * In economics‚ the money supply or money stock‚ is the total amount of money available in an economy at a specific time.[1] There are several ways to define "money‚" but standard measures usually include currency in circulation and demand deposits (depositors’ easily accessed assets on the books of financial institutions).[2][3] Money supply data are recorded and published‚ usually by the government or the central bank of the country. Public and private
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on anatomy? (p. 2) Because physiology studies the function of the structure and without the actual structure there is no function. 2. Which organ system includes the bones and cartilages? Which organ system includes the nasal cavity‚ lungs‚ and trachea? (p. 3) The Skeletal system includes the bones and cartilage. The Respiratory system includes the nasal cavity‚ lungs‚ and trachea. 3. What is the structural and functional unit of life that is the smallest unit of living things? (p. 3) The atom
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PRODUCTION FUNCTION Objectives After going through this unit‚ you should be able to: familiarise with the concepts and rules relevant for production decision analysis; understand the economics of production; understand the set of conditions required for efficient production. Introduction to Microbes Structure 7.1 7.2 7.3 7.4 7.5 7.6 7.7 7.8 7.9 Introduction Production Function Production Function with one Variable Input Production Function with two Variable Inputs The Optimal Combination
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Speak By : Dr Irengbam Mohendra Singh Demand for Meiteis to be a scheduled tribe A marvellous idea‚ it seems. But is it? Demands for Alternative arrangements by the Tangkhuls‚ and Kukilam by the Kukis seem bright ideas. But are they? Of course not! The Meitei demand is the culmination of what has taken them on an emotional rollercoaster ride from the peak of euphoria of independence to the valley of despair. I do appreciate the separate demands of the Tangkhuls and the Kukis‚ which they
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:- LAW OF DEMAND‚ IT ’ S . EXCEPTIONS AND ELASTICITY . OF DEMAND SUBMITTED TO :- Prof. S. RAMU TABLE OF CONTENTS INTRODUCTION MEANING OF DEMAND LAW OF DEMAND DEFINITIONS ASSUMPTIONS OF THE LAW DEMAND SEHEDULE DEMAND CURVE REASONS FOR THE LAW OF DEMAND OR THE SLOPING DOWNWARDS OF THE DEMAND CURVE EXCEPTIONS TO OR LIMITATIONS OF THE LAW OF DEMAND ELASTICITY OF
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