(a) In first order difference functions, the complementary function Y, is given as Y Ab. i) Discuss the economic importance of b' and the role of the value of b in determining the dynamic stability of equilibrium
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- using the graphical solution procedure, Compute the range of optimality for the objective function coefficients.A store owner specializes in connoisseur coffee blends and wants to make 1 kilogram bags that will sell for $ 120 using Colombian, Brazilian and Kenyan coffees. The cost per kilogram of these three types of coffee is $ 140, $ 70, $ 100, respectively. x=Colombian y=Brazilian z=Kenyan Find: The solution of the system of linear equations:Solve all three subparts correctly. From both the figure
- From a certain place K, 2000 people set off for work in the distant place S in the morning by car. Each of the drivers must decide whether to come to place S via point G or via point D (see the directed graph below). The travel time on segments G-S and K-D is not dependent on the number of drivers: each driver traverses the G-S segment in 60 minutes, and the K-D segment in 45 minutes, regardless of the number of drivers. However, the travel time on segments K-G and D-S depends on the number of drivers: if x drivers travel on the K-G segment, each driver on this segment consumes 0.005x minutes; if x drivers travel on the D-S segment, each driver on this segment consumes 0.01x minutes (see the directed graph below). Assume that all people start simultaneously and do not know the decisions of other people. Find all pure Nash equilibria of the game.Use bordered determinants to check the following functions for quasiconcavity and quasiconvexity: a) Z=−x2−y2(x,y>0) b) Z=−(x+1)2−(y+2)2(x,y>0).Consider the following decomposition of the error term: v i t = a i + u i t The first part of this error term (ai) caputres ______and the second part (uit) caputres______. time constant unobserved factors, time varying unobserved factors time varying unobserved factors, time constant unobserved factors homoskedasticity, heteroskedasticity heteroskedasticity, homoskedasticity