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1. Give an example of a nonlinear system that has an equilibrium point for which the linearized system has a zero eigenvalue, but the nonlinear system has only one equilibrium point. 2. For the system x' = y - 1y' = y - x2, determine the types of each equilibrium point.
3. For the system x' = sin(x)y' = cos(y), find all equilibrium points and use linearization together with the nullclines to sketch the phase plane.
Discuss the difference between a change in demand and a change in quantity demanded in terms of causes and in how they appear graphically.
Short-run cost function - Which of the is not an assumption of the linear breakeven model - the breakeven sales volume (in dollars) can be found by multiplying the breakeven sales volume
Economists believe that the current values of the deposit multiplier and the money multiplier are widely divergent. Why might these values differ at present? What (if anything) do you think must happen for them to converge once again?
Increasing jet fuel values recently led most major United States airlines to raise fares by approximately 15%. Describe how this substantial increase in airfares would affect the following;
draw the cheese market for the united states showing the world price as the price for this market. how much cheese does
a explain why the assumption of imperfect competition is necessary for endogenous growth models.b how might well
Assume there're three firms with the same individual demand function. This function is Q=1,000-40P. Assume each firm had the diffeerent cost function these functions are: Firm 1: 4,000+ 5Q
How does globalization reduce the costs of production - Is it likely that all U.S. jobs one day will have moved abroad? Why or Why not?
The government levies an excise tax of five cents per unit sold on sellers in a competitive industry. Supply and demand curves have some elasticity with respect to value.
Identification Problem in the development of a demand function is a result - The method which can give some information in estimating demand of a product that hasn't yet come to market - One commonly used test in checking for the presence of autocorr..
A competitive firm has the following quadratic total cost function: TC = 5Q2- 25Q + 300- Determine the firm's break-even points if the market price is P = $80.
Assume that the long-run aggregate supply curve is vertical at Y = 3,000 while the short-run aggregate supply curve is horizontal at P = 1.0. The aggregate demand curve is Y = 3(M/P) and M = 1,000.
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