Production Functions 1 mathematical tricks • the derivative of αxβ with respect to x is αβxβ−1 • xα xβ = xα+β (for any α and β) • 1 xα = x−α • if m = nB , then n = m1/B 2 the production function A production function y = f (x1 , x2 ) is a Cobb–Douglas production function if it can be written in the form y = Axa xb 1 2 (1) where A, a and b are positive constants. So the partial derivatives of a Cobb–Douglas production function are : M P1 = M P2 = ∂y = aAxa−1 xb 1 2 ∂x1 (2) ∂y
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HOLTE VISUAL and PERFORMING ARTS COLLEGE Centre 20131 BTEC -- BTEC Level 3 National: Health & Social Care | | | |Unit 2: |Equality, Diversity and Rights in Health and Social Care | | |
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Time-weighted Average Return = 1+R1*…*1+Rn 1n-1 * Account for time value but ignore the size of cash flow * More volatility, the bigger the difference between AM and GM Always quote annual rates APR = Annual % Rate; EAR = Effective annual rate (Takes into account of compounding) EAR = 1+Rate per period 1n-1 1 stdev = 68.2%, 2 = 95.44, 3 = 99.74 Systematic risk – Market Risk, liquidity risk Unsystematic risk – Industry or company specific risk VAR = ε(Ri-R) 2(n-1), Expected Return = E (R
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subject Categorical response variable: For a categorical response variable - Inferences compare groups in terms of their population proportions in a particular category - We can compare the groups by the difference in their population proportions: (p1 – p2) Example: Experiment: Subjects were 22,071 male physicians Every other day for five years, study participants took either an aspirin or a placebo The physicians were randomly assigned to the aspirin or to the placebo group The study was double-blind:
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Chapter 5—Gases 5.1: Substances That Exist as Gases Air: 78% N2, 21% O2, 1% Other (such as CO2) Ionic compounds do not exist as gases at 25 degrees Celsius as well as 1 atm (due to strong electrostatic forces holding cations/anions together in an ionic solid). The stronger the attractions (intermolecular forces), the less likely the compound can exist as a gas at ordinary temperatures. The characteristics of gases include: assuming the volume/shape of their containers, most compressible
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take place on Monday, April 8th, 2013. This, the second of two practice exams, will be the subject of class on Wednesday. It will not be graded, but will serve only as practice material accurately representing the content and format of the exam. 1.) Walter used to work as a high school teacher for $40,000 per year but quit in order to start his own painting business. To invest in his painting business, he withdrew $20,000 from his savings, which paid 3 percent interest, and borrowed $30,000 from
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stores. Product manager Erica Kane recently raised the suggested retail price on a popular line of mascara products from $9 to $12 following increases in the costs of labor and materials. Unfortunately, sales dropped sharply from 16,200 to 9,000 units per month. In an effort to regain lost sales, Enchantment ran a coupon promotion featuring $5 off the new regular price. Coupon printing and distribution costs totaled $500 per month and represented a substantial increase over the typical advertising
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Exercise 1 Question 1 a. Microeconomics b. Macroeconomics c. Macroeconomics d. Microeconomics e. Macroeconomics Question 2 Given the graph of the production possibilities frontier, the main source of milk and ingredient of cookies are from cows. If the milk production is to be increased, the production of cookies will decreased, illustrated by the movement of quantity of milk and cookies produced, from point A to B. This is based on the opportunity cost applied
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HOMEWORK #1 Question 1: a) The per capita CD sales are higher in the U.S. than in Mexico, while per capita cassette sales are lower in the U.S compared to Mexico because of the income elasticity of demand for these goods. CDs are normal goods and demand for them rises as income rises. The per capita sales of CDs are higher in the U.S. because U.S. citizens have higher income than Mexicans. On the other hand, music cassettes are considered inferior goods because of new technological advancements
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Assignment brief – QCF BTECAssignment front sheet | Qualification | Unit number and title | BTEC Level 3 Certificate and Sub-Diploma in Public Services | Unit 12 – Crime and its effects on Society | Learner name | Assessor name | | Mrs. L. Gabell | Date issued | Hand in deadline | Submitted on | | | | | | Assignment title | | In this assessment you will have opportunities to provide evidence against the following criteria. Indicate the page numbers where the evidence
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