capital goods production by 33% without affecting consumer goods output. Draw a curve on the diagram representing the production possibility curve following a war that destroys half the country’s land‚ labour‚ and capital. Label this curve PPPW. Suppose depreciation is 15 units of Capital. Will the Production Possibilities curve be smaller‚ unchanged‚ or greater in
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R1. Suppose the network layer provides the following service. The network layer in the source host accepts a segment of maximum size 1‚200 bytes and a destination host address from the transport layer. The network layer then guarantees to deliver the segment to the transport layer at the destination host. Suppose many network application processes can be running at the destination host. a. Design the simplest possible transport-layer protocol that will get application data to the
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scenario: a. All money Is held as currency b. All money is held as demand deposits. Banks hold 20 % of deposits in reserves. c. People hold equal amounts of currency and demand deposits. Banks hold 20% of deposits as reserves. 4. (10 points) Suppose a country has a money demand function (M/P)d = kY‚ where ‘k’ is a constant parameter. The money supply grows at 15% per year‚ and real income grows by 5% per year. a) What is the average annual inflation rate? b. How would
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Ch2 Student: ___________________________________________________________________________ 1. In a competitive market‚ the market demand is Qd = 60 - 6P and the market supply is Qs = 4P. A price ceiling of $3 will result in a A. B. C. D. shortage of 30 units. shortage of 15 units. surplus of 30 units. surplus of 12 units. 2. In a competitive market‚ the market demand is Qd = 60 - 6P and the market supply is Qs = 4P. The full economic price under a price ceiling of $3 is A. B. C. D. 6.
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(e) y − y = et y 2 (f) cos(xy) − xy sin(xy) + 2xyex + (ex − 2y − x2 sin(xy))y = 0‚ y(1) = 0 dy x + 3y (g) = dx 3x + y 2 x sin x dy + (y cos3 x − 1) dx = 0‚ 0 < x < π (h) cos (i) (x + yey/x )dx − xey/x dy = 0‚ y(1) = 0 [Hint: Think homogeneous.] 4. Suppose the differential equation dP = (k cos t)P‚ dt is a model of the human population P (t) of a certain community‚ where k is a positive constant. Discuss a (non-morbid) interpretation for the solution of this equation. In other words‚ what kind of population
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will there be a shortage‚ a surplus? _________________ g) How much is the shortage or surplus equal to _____________________ h) Will the price stay at $1.00 for the long time? Why? 1) New automobiles and used automobiles are substitutes. Suppose the prices of new automobile increase. What happens to the equilibrium quantity and price of used automobiles? 1) What happens to the equilibrium price and quantity in the following cases? Use the graph to explain the change. a) Increase in preference
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Start each problem on a new page in your bluebook. At the end of the exam‚ please sign the honor code pledge printed on your bluebook. No books‚ notes or electronic devices of any kind are allowed. Show all work‚ justify your answers. 1. (25 pts) Suppose events A‚ B and C‚ all defined on the same sample space‚ have the following probabilities: P(A) = 0.22‚ P(B) = 0.25‚ P(C) = 0.28‚ P(A ∩ B) = 0.11‚ P(A ∩ C) = 0.05‚ P(B ∩ C) = 0.07 and P(A ∩ B ∩ C) = 0.01. For each of the following parts‚ your answer
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Tutorial Questions Topic 1 1.1 Mary and Margaret have the same preferences and incomes. Just as Mary arrived at the cinema to watch a 3D movie‚ she discovered that she had lost the $100 ticket she had purchased earlier. Margaret also just arrived at the cinema planning to buy a ticket to watch the same movie when she discovered that she had lost a $100 note from her wallet. If both Mary and Margaret are rational (who make decisions to maximize economic surplus) and both still have enough money to
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Spring 2012 BA 361 Exam 4 Review Questions National Welfare‚ Consumer‚ Producer and Total Surplus Use the graph below to answer the next few questions: Assume that the graph shows a perfectly competitive market. What is the consumer surplus? F+B+E Assume that the graph shows a perfectly competitive market. What is the producer surplus? A+C+D Assume that the graph shows a perfectly competitive market. What is the total surplus? A+C+D+F+B+E Now assume that a monopoly is the sole supplier
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Econ 2200 Midterm #1 fall 2011 Section I Answer Four of the following six questions. Each question is worth 5 points. a. What is the difference between the Income Effect and a Change in Income? b. True or False: The slope of the budget line represents the rate at which the consumer is willing to trade one good for another at any given bundle. Explain. c. An Engel curve can be both positively and negatively sloped‚ why does this happen? d. What do we mean by the term “Consumer Surplus”? e
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