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- PLEASE CHECK THIS HOW TO SOLVE how to construct: can you explain all parts max┬(v^'∈[0,1]) Pr(b_2<b(v^' ))(v_1-1/2 (b(v^' )+E[b(v_2 )∣v_2<v^' ]))". "Draw cobweb model for 1. Fluctuation of market price 2. cobweb model for market economy graph for given data D=12.4-1.2P S= 8.0-0.6p-1 D=S P=1(initial value?2(a) In what sense is capital productive? (b) Is interest earned?
- 1. Why 0% interest would rebuild ERI (Economic Responsibility Investing) economies? ... [3 lines max]One word Which economics is concerned with the evaluation of the alternative economic situations from the point of view of the society well beingPls help with below homework. What is the main difference between the adaptive and the visionary approach ? Pls give atleast two examples.
- The cost of having more capital and being more productive in the future is reduced consumption in the current period. O private O marginal O opportunity socialxercise 5: Production and income distributionConsider and economy with the following production technology: ,Y = 9K1/3L2/3 wherethe aggregate capital stock is K=100, and aggregate labor is L=100. The price of output is1.a) Write down the maximization problem of the firm.b) Compute the equilibrium wage and capital return.c) Compute total payments to labor and capital. Show Euler’s Theorem holds, i.e. showthat total payments to capital and labor equal the value of output.d) What share of output goes to labor and capital?e) Suppose there is an increase in L, what would be impact on wages and capital returns?Explain.Suppose you are considering whether to purchase a house off of Lake Erie for $400,000. You expect thetotal costs of maintaining the property (utilities, repairs, etc.) to equal $15,000/year, and that you would be able togenerate $35,000/year in revenue if you were to put the house on the short term rental market.a. (3) Suppose you are deciding between purchasing the home or whether to invest $400,000 in an interest-bearingaccount. If your objective is to maximize your own net income, what would the interest rate have to equal for youto invest in the interest-bearing account?b. (4) Suppose you decide to buy the house, and now you have to decide whether/when to list the house on theshort term rental market (like Airbnb) or stay in the house yourself. Briefly explain what this decision woulddepend on. What are the implicit (opportunity) costs associated with renting the house to someone else on a givenday? What are the implicit costs associated with the staying in the house yourself?c.…
- In a circular flow diagram which one of the follwing transactions happens in the market for goods and services and which one in the market for factors of production? A.) Selena pays a storekeeper $2 for a quart of milk- D.) Salma earns $1000 dividend from the stocks she has-What are examples of individual economic agents?Edna is living in a retirement home where home where most of her needs are taken care of, but she has some discretionary spending. Based on the basket of goods in Table 22.5, by what percentage does Ednas cost of living increase between time 1 and time 2
