ECO 3153 Chapter Notes - Chapter 15: Average Variable Cost, Dysmenorrhea, Proportional Tax
12 Apr 2016
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If = 0, this production function becomes a cobb-douglas production function. K=1 (hint: use the logarithmic transformation ln y = ln f (z) and evaluate its limit when. 0: a cournot oligopoly is equivalent to perfect competition when the market share of each rm is 0, the marginal cost curve intersects the average variable cost curve at its minimum value. Fatima has a budget of for a trip around the world. Her utility function is u(y) = ln y where y represents total travelling expenditure. If she gets back home with some money left, her mother would take this money: suppose there is a 25% probability of losing during the trip. Assume the following trade situation: agent 1 has an income of y1 and one unit of a good. Agent 2 may buy this good for p dollars. U1 = m1 + 6xs x ={ 0 if the good is traded.
