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Consider the problem of maximizing x subject to the constraint that x2 ≤ 0. Show that there exists a unique solution to this problem, but there exists no Lagrange multiplier. Show that this is because the Slater condition is not satisfied.
Today's mainstream economists speak of "rational economic man" as the fundamental character of people, immutable across time and space, and the foundation of economic activity. Key characteristics of "rational economic man" are atomism, egoism, a..
What is the value of the RSS - What are the d.f. of the ESS and RSS?
a) What would happen to the quantity demanded of cigarettes if income increases b) Are cigarettes a "normal" or "inferior" good c) What would happen to the quantity demanded if household income were to rise by 1% next year
The polynomial distributed lag model is a restricted version of the general model. How many restrictions are imposed? How would you test these? ( Hint:Think Ftest.)
What effect does this have on the nation's welfare?
Write down the conditions that characterize the world equilibrium when this condition is not satisfied.
what is the opportunity cost of a bottle of root beer
This Christmas, you decide to buy your true love a partridge in a pear tree. After consulting with several garden centers, you make your purchase by writing a check for $150. The garden center promptly deposits your check in its bank.
Costs associated with the manufacture of "blah" are $73,000 per year. They found that by spending $16,000 now, the cost will go down to $58,000 next year and $52,000 in years 2 through 5.
Determine the circuit's operating points for an input dc level of 0.9 V.
A university planner wants to determine the proportion of spring semester students who will attend summer school. She surveys 32 current students discovering that 12 will return for summer school.
If the government imposed a minimum wage of w=70, what would be the resulting quantity of labor employed, the wage, and the welfare loss. Also, calculate the change in welfare compared to the free market outcome (i.e., in the absence of minimum w..
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