Present the model of a market of a single good from Exercise E1 as (a) a dynamic
Question:
Present the model of a market of a single good from Exercise E1 as
(a) a dynamic discrete-time model,
(b) a dynamic continuous-time model.
Exercise E1
There is a market of a homogeneous product with exogenously determined
Transcribed Image Text:
Check whether in these models Walras's law is satisfied for an excess demand func- tion. Selecting proper values for parameter > 0 in the dynamic discrete-time model determine a feasible price trajectory for 10 subsequent periods: t = 1, 2, ..., 10.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (2 reviews)
Answered By
Muhammad Salman Alvi
Well, I am a student of Electrical Engineeing from Information Technology University of Punjab. Just getting into my final year. I have always been good at doing Mathematics, Physics, hardware and technical subjects. Teaching profession requires a alot of responsibilities and challenges.
My teaching experience started as an home tutor a year ago. When I started teaching mathematics and physic subjects to an O Level student. He was about 14 years old. His name was Ibrahim and I used to teach him for about 2 hours daily. Teaching him required a lot of patience but I had to be polite with him. I used to give him a 5 min break after 1 hour session. He was quite weak in basic maths and calculation. He used to do quite a lot of mistakes in his homework which I gave him weekly. So I decided to teach him basics from scratch. He used to say that he got the concept even if he didn't. So I had to ask him again and again. I worked on his basics for a month and after that I started taking a weekly test sesions. After few months he started to improve gradually. Now after teaching him for about a year I can proudly say that he has improved alot. The most important thing was he managed to communicate all the difficullties he was facing. He was quite capable and patient. I had a sincere desire to help him reach to its full potential. So I managed to do that. We had a very good honest relationship of a student and a teacher. I loved teaching him as a tutor. Now having an experience of one year teaching I can read students quite well. I look forward to work as an online tutor who could help students in solving their all sort of difficulties, problems and queries.
4.90+
29+ Reviews
43+ Question Solved
Related Book For
Microeconomics Static And Dynamic Analysis Springer Texts In Business And Economics
ISBN: 9783031105531
1st Edition
Authors: Krzysztof Malaga, Karolina Sobczak
Question Posted:
Students also viewed these Business questions
-
Present the model of a market of two goods from Exercise E2 as (a) a dynamic discrete-time model, (b) a dynamic continuous-time model. Exercise E2 There is given a market of two products with...
-
Explain why an excess demand function, in the discussed model of a market of a single good with exogenously determined functions of supply and demand, is positively homogenous of degree 0 and...
-
Formularium Management III Kevin Denis June 18, 2014 Use at own risk. Part I Inventory Control 1 Known demand (p198) 1.1 Basic EOQ model (p210) Assumptions: 1. Demand is xed at units per unit time....
-
QUESTION THREE The following is an extract of a trial balance of Ruslan-Ford Partners as at 28 February 2023 Capital: Ruslan Capital: Ford Current account: Ruslan 01/03/2022 Current account: Ford...
-
If you have ever taken a ride in an express elevator of a high-rise building, you may have experienced a nauseating sensation of heaviness or lightness depending on the direction of the acceleration....
-
Why are consolidated statements alone considered insufficient and inadequate financial re ports?
-
Suppose you fit the model y = b0 + b1 x1 + b2 x2 + b3 x3 + e to n = 30 data points and obtain the following result: yn = 2.2 - 2.8x1 + 1.9x2 + .97x3 The estimated standard errors of b n 2 and b n 3...
-
In a random sample of 400 people purchasing state lottery tickets, 172 sample members were women. Test the null hypothesis that half of all purchasers are women.
-
Required information Skip to question [The following information applies to the questions displayed below.] Shauna Coleman is single. She is employed as an architectural designer for Streamline...
-
An owner of a strawberry plantation hires one worker who has 24 units of time. The employee can allocate part of the time to work and part to rest. He/she owns 20% of shares in profits of the...
-
There is given a market of two products with exogenous demand functions: y (p) = ap + v P2 + b, y (p) = - a2 p2 + y2P + b, ai, bi, Vi > 0, i = 1,2 and exogenous supply functions: yi (p) =cipi +81 P2...
-
Harry Hoaas and Larry Griffiths were shareholders in Grand Casino, Inc. which owned and operated a casino in Watertown, South Dakota. Griffiths owned 51 percent of the stock and Hoaas 49 percent....
-
1. Identify areas of difference that could potentially cause conflict between line managers in the United States and their employees who are natives of the locales in which they work (e.g. paid leave...
-
In organizational behavior, understanding the factors that predict organizational performance is crucial for managers and researchers. Numerous theories and studies have attempted to shed light on...
-
What emotional triggers or psychological biases influence consumer decision-making in our industry, and how can we leverage them in our marketing campaigns?
-
The most abundant protein on Earth, Rubisco, is a 530,000.0 g/mol enzyme involved in photosynthesis. You dissolve 33.568 g of Rubisco in 250 ml of water at 25.0 C. Assume the mixture behaves as an...
-
This week you studied about Organizational Development interventions. Proposed Intervention: Detail and explain the type of intervention (individual, team, or organizational) that is warranted for...
-
An article appearing in The Exponent, an independent college newspaper published by the Purdue Student Publishing Foundation, reported that the average American college student spends one hour (60...
-
Assume that a trial balance is prepared with an account balance of $21,360 listed as $21,630 and an account balance of $1,500 listed as $15,000. Identify the transposition and the slide.
-
Practical Application: Underemployment of college graduates is a growing problem. If you were appointed to the board of trustees of your college, what measure would you suggest to alleviate this...
-
Could a nations production possibilities frontier ever shift inward? Discuss whatever might cause such a shift to occur.
-
What are the three basic economic questions that all economies must answer? Describe the differences in the ways that capitalism and socialism answer these three questions.
-
Yard Professionals Incorporated experienced the following events in Year 1, its first year of operation: Performed services for $31,000 cash. Purchased $7,800 of supplies on account. A physical count...
-
This question is from case # 24 of book Gapenski's Cases in Healthcare Finance, Sixth Edition Select five financial and five operating Key Performance Indicators (KPIs) to be presented at future...
-
assume that we have only two following risk assets (stock 1&2) in the market. stock 1 - E(r) = 20%, std 20% stock 2- E(r) = 10%, std 20% the correlation coefficient between stock 1 and 2 is 0. and...
Study smarter with the SolutionInn App