Practice Exam 1. Use the limit laws from class compute the following limit. Show all your work and cite all rules used explicitly. xf(x) + 5x.

Size: px
Start display at page:

Download "Practice Exam 1. Use the limit laws from class compute the following limit. Show all your work and cite all rules used explicitly. xf(x) + 5x."

Transcription

1 Practice Exam 1 Tese problems are meant to approximate wat Exam 1 will be like. You can expect tat problems on te exam will be of similar difficulty. Te actual exam will ave problems from sections 11.1 troug Te problems ere are just a sample of te many kinds of problems tat could appear on te exam. You will be expected to sow all your work. Please see me if you ave any questions on tese or oter problems. For te sake of brevity I ave not included room for your work on tis list of problems. On te actual exam you will be expected to sow your work and tere will be sufficient room to do so.. 1. Suppose tat it is known tat: fx) =, x 2 gx) = 4 x 2 Use te it laws from class compute te following it. Sow all your work and cite all rules used explicitly. gx) 2 ) xfx) + 5x x 2 gx) 2 ) xfx) + 5x x 2 gx) 2 ) xfx) + 5x Product Property x 2 x 2 ) 2 ) 1 gx) xfx) + 5x 2 Power Property x 2 x 2 ) 2 ) 1 gx) xfx)) + 5x) 2 Sum Property x 2 x 2 x 2 ) 2 ) 1 gx) x) fx)) + 5) x) 2 Product Property x 2 x 2 x 2 x 2 x 2 = 4) ) 1 2 Identity and Constant Property = 1616) 1 2 = Use algebra and properties from class to compute te following its. You do not need to state te properties. If a it does not exist write DNE and indicate wy you know it doesn t exist. 2x 2 14x + 24) a) x x x 2 14x + 24) x x 2 9 2x 2 7x + 12) x x )x + ) 2 x )x 4) x x )x + ) 2 = 4) + = 2 6 = 1 b) x 2x 2 14x + 24) x 2 9

2 2 2x 2 14x + 24) x x 2 9 2x 2 7x + 12) x x )x + ) 2 x )x 4) x x )x + ) x 2x 4) x + ) = DNE c) We know tat tis doesn t exist because wile te denominator is going to zero te numerator is not so tere is no way to get any cancelation. We can also sow tat in fact te it on one side is positive infinity and on te oter side it is negative infinity. x 4 x + x 2 x x + 2x 9 d) x x 5 x x x + 2x 5 x 4 + 2x x 4 x + x 2 ) 1 x x x + 2x 9) 1 x x x 0 0 x + x 2 x x 2 x x 1 = x x 5 x x x + 2x 5 x 4 + 2x x = = 24 2 = x + 2 x x 2 x + 2 x x

3 . Use te it definition of te derivative to compute te derivative of te function fx) = 1 2x 1 To receive full credit you must be clear and you must use te it definition. Te it definition says tat, Tus we ave tat: f x) f x) fx + ) fx) = 1 2x+) 1 1 2x 1 2x 1 2x+) 1)2x 1) 2x 1 2x+)+1 2x+) 1)2x 1) 2 2x+) 1)2x 1) 2 2x+) 1)2x 1) 2x+) 1 2x+) 1)2x 1) ) ) 2 2x + ) 1)2x 1) 2 2x 1)2x 1) = 2 2x 1) 2

4 4 4. Using te sort cut formulas compute te derivative of te following functions: a) fx) = 2 x + x 5 First rewrite te function as: fx) = 2x x 5 Ten applying te power rule for derivatives we ave tat: f x) = 1 2 2)x 1 2 5)x 6 or f x) = x x 6 b) gx) = x + 2x 2 x First we rewrite te equation as: gx) = x + 2x 2 x 1 2 Ten we apply te power rule to get: = x x x 2 x 1 2 = x x g x) = 1 2 x Given tat te derivative of te function fx) = e x 2) is f x) = e x 2), use your knowledge of calculus to find te equation of te tangent line to te grap of y = e x 2) wen x = 2. Te slope of te tangent line is given by f 2) = e 2 2) =. Te tangent line must also pass troug te point 2, f2)) = 2, 1). Tus using te point slope formula we get: or y 1) = x 2) y = x 5

5 5 6. Below is a grap tat sows bot te median and average sales prices of new omes sold in te United States from If you are not viewing tis in color, te lower curve is te median prices.) In indsigt looking at tese graps we can see te so-called ousing bubbles occurring in te late 1980 s and te more recent bubble starting in 200. Use te above grap to answer te following questions as accurately as possible. a) Use te grap to calculate te average rate of cange of te Median ome price from 2002 to Make sure to include te units in your answer. If we tink of te median ome sales price as a function Mx) were x is te year ten we ave: avg. rate of cange = M2007) M2002) = = = 12, 000 dollars year b) Use te grap to calculate te average rate of cange of te Median ome price from 2002 to Make sure to include te units in your answer. If we tink of te median ome sales price as a function Mx) were x is te year ten we ave: avg. rate of cange = M2008) M2002) = = ,. dollars year c) Explain grapically wat te numbers computed in a) and b) represent. If you used te values in a) to predict te median ome price in 2009 would it be iger or lower ten if you used te answer in b)?

6 6 Grapically, tese two numbers represent te slopes of te secant line tat would connect te points at year 2002 and 2007 for a)) and for 2002 and 2008 part b)). Te secant lines are drawn on te grap. Since te slope in part a) is larger tan tat in part b), it would predict a iger value in 2009, owever since te interval of as artificially growing median ousing prices tat value is going to most likely be less accurate ten using te average over te period wen ome prices ave declined some and te effects of te bubble would be less. 7. A company knows tat tat tey can sell x items at a price of px) = 00.01x dollars per item. a) Find te total revenue for selling x items. Hint: revenue is price multiplied times te number of items sold.) To find te total revenue you need to multiply te price px) by te number of items sold x, tis gives te revenue rx) or: rx) = x00.01x) = 00x.01x 2 b) Find te marginal revenue for selling x items. To find te marginal revenue we compute te derivative of te function found in a). Tis gives: r x) = 00.02x c) Use your answer from b) to determine te marginal revenue wen 100 items are being sold. Include te units wit your answer. To find te marginal revenue wen 100 items are being sold we just evaluate r 100) or r 10) = ) = 298 dollars item d) Give a brief interpretation in words wat tis number from part c) means. Use complete sentences. Te number 298 computed in c) means tat wen 100 items are being sold, revenue will increase by approximately 298 dollars wen one more item is sold.

7 7 8. Sketc one grap of a function fx) tat satisfies all te following properties: a) f) = 2. b) f x) is not defined at x =. c) f x) = 0 for x <. d) f x) < 0 for x <. e) fx) = 1. x Te blue grap above represents a possible plot of fx). Te dased line represents te asymptote at y = 1.

8 8 9. Below is te grap of a function fx). Use te grap to answer te questions tat follow a) List all values a suc tat 5 < a < 5 and fx) does not exist. x a Te values of a are: -2, 1,, 4. b) List all values a suc tat 5 < a < 5 and f a) does not exist. 4-4 Te values of a are: 4,, 1, 0, 1,, 4-5 c) List all values of a suc tat 5 < a < 5 and x a fx) exists but is different tan fa). Te values of a are: 4. d) Wat is f 2)? Te value of f 2) is kist te slope of te line at tat point wic is 1/2. e) Wat is fx)? x 1 Te it from te left at 1 is 2 f) Wat is x + fx)? Te it from te rigt at is -2 4

Calculus I Homework: Four Ways to Represent a Function Page 1. where h 0 and f(x) = x x 2.

Calculus I Homework: Four Ways to Represent a Function Page 1. where h 0 and f(x) = x x 2. Calculus I Homework: Four Ways to Represent a Function Page 1 Questions Example Find f(2 + ), f(x + ), and f(x + ) f(x) were 0 and f(x) = x x 2. Example Find te domain and sketc te grap of te function

More information

11.1 Average Rate of Change

11.1 Average Rate of Change 11.1 Average Rate of Cange Question 1: How do you calculate te average rate of cange from a table? Question : How do you calculate te average rate of cange from a function? In tis section, we ll examine

More information

In the following I do the whole derivative in one step, but you are welcome to split it up into multiple steps. 3x + 3h 5x 2 10xh 5h 2 3x + 5x 2

In the following I do the whole derivative in one step, but you are welcome to split it up into multiple steps. 3x + 3h 5x 2 10xh 5h 2 3x + 5x 2 Mat 160 - Assignment 3 Solutions - Summer 2012 - BSU - Jaimos F Skriletz 1 1. Limit Definition of te Derivative f( + ) f() Use te limit definition of te derivative, lim, to find te derivatives of te following

More information

The study guide does not look exactly like the exam but it will help you to focus your study efforts.

The study guide does not look exactly like the exam but it will help you to focus your study efforts. Mat 0 Eam Study Guide Solutions Te study guide does not look eactly like te eam but it will elp you to focus your study efforts. Here is part of te list of items under How to Succeed in Mat 0 tat is on

More information

What are Swaps? Basic Idea of Swaps. What are Swaps? Advanced Corporate Finance

What are Swaps? Basic Idea of Swaps. What are Swaps? Advanced Corporate Finance Wat are Swaps? Spring 2008 Basic Idea of Swaps A swap is a mutually beneficial excange of cas flows associated wit a financial asset or liability. Firm A gives Firm B te obligation or rigts to someting

More information

Introduction to Algorithms / Algorithms I Lecturer: Michael Dinitz Topic: Splay Trees Date: 9/27/16

Introduction to Algorithms / Algorithms I Lecturer: Michael Dinitz Topic: Splay Trees Date: 9/27/16 600.463 Introduction to lgoritms / lgoritms I Lecturer: Micael initz Topic: Splay Trees ate: 9/27/16 8.1 Introduction Today we re going to talk even more about binary searc trees. -trees, red-black trees,

More information

Chapter 4 Rates of Change

Chapter 4 Rates of Change Capter 4 Rates of Cange In tis capter we will investigate ow fast one quantity canges in relation to anoter. Te first type of cange we investigate is te average rate of cange, or te rate a quantity canges

More information

ACC 471 Practice Problem Set # 4 Fall Suggested Solutions

ACC 471 Practice Problem Set # 4 Fall Suggested Solutions ACC 471 Practice Problem Set # 4 Fall 2002 Suggested Solutions 1. Text Problems: 17-3 a. From put-call parity, C P S 0 X 1 r T f 4 50 50 1 10 1 4 $5 18. b. Sell a straddle, i.e. sell a call and a put to

More information

What are Swaps? Spring Stephen Sapp ISFP. Stephen Sapp

What are Swaps? Spring Stephen Sapp ISFP. Stephen Sapp Wat are Swaps? Spring 2013 Basic Idea of Swaps I ave signed up for te Wine of te Mont Club and you ave signed up for te Beer of te Mont Club. As winter approaces, I would like to ave beer but you would

More information

ECON 200 EXERCISES (1,1) (d) Use your answer to show that (b) is not the equilibrium price vector if. that must be satisfied?

ECON 200 EXERCISES (1,1) (d) Use your answer to show that (b) is not the equilibrium price vector if. that must be satisfied? ECON 00 EXERCISES 4 EXCHNGE ECONOMY 4 Equilibrium in an ecange economy Tere are two consumers and wit te same utility function U ( ) ln H {, } Te aggregate endowment is tat prices sum to Tat is ( p, p)

More information

2.11 School Board Executive Compensation Practices. Introduction

2.11 School Board Executive Compensation Practices. Introduction Introduction Figure 1 As part of Education Reform in 1996-97, 27 denominational scool boards were consolidated into 10 scool boards and a Frenc-language scool board. From 1 January 1997 to 31 August 2004

More information

Introduction. Valuation of Assets. Capital Budgeting in Global Markets

Introduction. Valuation of Assets. Capital Budgeting in Global Markets Capital Budgeting in Global Markets Spring 2008 Introduction Capital markets and investment opportunities ave become increasingly global over te past 25 years. As firms (and individuals) are increasingly

More information

PRICE INDEX AGGREGATION: PLUTOCRATIC WEIGHTS, DEMOCRATIC WEIGHTS, AND VALUE JUDGMENTS

PRICE INDEX AGGREGATION: PLUTOCRATIC WEIGHTS, DEMOCRATIC WEIGHTS, AND VALUE JUDGMENTS Revised June 10, 2003 PRICE INDEX AGGREGATION: PLUTOCRATIC WEIGHTS, DEMOCRATIC WEIGHTS, AND VALUE JUDGMENTS Franklin M. Fiser Jane Berkowitz Carlton and Dennis William Carlton Professor of Economics Massacusetts

More information

Global Financial Markets

Global Financial Markets Global Financial Markets Spring 2013 Wat is a Market? A market is any system, institution, procedure and/or infrastructure tat brings togeter groups of people to trade goods, services and/or information.

More information

Figure 11. difference in the y-values difference in the x-values

Figure 11. difference in the y-values difference in the x-values 1. Numerical differentiation Tis Section deals wit ways of numerically approximating derivatives of functions. One reason for dealing wit tis now is tat we will use it briefly in te next Section. But as

More information

Chapter 8. Introduction to Endogenous Policy Theory. In this chapter we begin our development of endogenous policy theory: the explicit

Chapter 8. Introduction to Endogenous Policy Theory. In this chapter we begin our development of endogenous policy theory: the explicit Capter 8 Introduction to Endogenous Policy Teory In tis capter we begin our development of endogenous policy teory: te explicit incorporation of a model of politics in a model of te economy, permitting

More information

Financial Markets. What are Financial Markets? Major Financial Markets. Advanced Corporate Finance

Financial Markets. What are Financial Markets? Major Financial Markets. Advanced Corporate Finance Financial Markets Spring 2008 Wat are Financial Markets? A financial market is a mecanism tat allows people to buy and sell financial securities, commodities, and oter fungible financial assets wit low

More information

Number of Municipalities. Funding (Millions) $ April 2003 to July 2003

Number of Municipalities. Funding (Millions) $ April 2003 to July 2003 Introduction Te Department of Municipal and Provincial Affairs is responsible for matters relating to local government, municipal financing, urban and rural planning, development and engineering, and coordination

More information

EXAMINATIONS OF THE HONG KONG STATISTICAL SOCIETY

EXAMINATIONS OF THE HONG KONG STATISTICAL SOCIETY EXAMINATIONS OF THE HONG KONG STATISTICAL SOCIETY HIGHER CERTIFICATE IN STATISTICS, 2012 MODULE 8 : Survey sampling and estimation Time allowed: One and a alf ours Candidates sould answer THREE questions.

More information

Making Informed Rollover Decisions

Making Informed Rollover Decisions Making Informed Rollover Decisions WHAT TO DO WITH YOUR EMPLOYER-SPONSORED RETIREMENT PLAN ASSETS UNDERSTANDING ROLLOVERS Deciding wat to do wit qualified retirement plan assets could be one of te most

More information

Capital Budgeting in Global Markets

Capital Budgeting in Global Markets Capital Budgeting in Global Markets Spring 2013 Introduction Capital budgeting is te process of determining wic investments are wort pursuing. Firms (and individuals) can diversify teir operations (investments)

More information

2.21 The Medical Care Plan Beneficiary Registration System. Introduction

2.21 The Medical Care Plan Beneficiary Registration System. Introduction 2.21 Te Medical Care Plan Beneficiary Registration System Introduction Te Newfoundland Medical Care Plan (MCP) was introduced in Newfoundland and Labrador on 1 April 1969. It is a plan of medical care

More information

Managing and Identifying Risk

Managing and Identifying Risk Managing and Identifying Risk Spring 2008 All of life is te management of risk, not its elimination Risk is te volatility of unexpected outcomes. In te context of financial risk it can relate to volatility

More information

A Guide to Mutual Fund Investing

A Guide to Mutual Fund Investing AS OF DECEMBER 2016 A Guide to Mutual Fund Investing Many investors turn to mutual funds to meet teir long-term financial goals. Tey offer te benefits of diversification and professional management and

More information

SAT Practice Test #1 IMPORTANT REMINDERS. A No. 2 pencil is required for the test. Do not use a mechanical pencil or pen.

SAT Practice Test #1 IMPORTANT REMINDERS. A No. 2 pencil is required for the test. Do not use a mechanical pencil or pen. SAT Practice Test # IMPORTAT REMIDERS A o. pencil is required for te test. Do not use a mecanical pencil or pen. Saring any questions wit anyone is a violation of Test Security and Fairness policies and

More information

2.15 Province of Newfoundland and Labrador Pooled Pension Fund

2.15 Province of Newfoundland and Labrador Pooled Pension Fund Introduction Te Province of Newfoundland and Labrador sponsors defined benefit pension plans for its full-time employees and tose of its agencies, boards and commissions, and for members of its Legislature.

More information

Managing and Identifying Risk

Managing and Identifying Risk Managing and Identifying Risk Fall 2011 All of life is te management of risk, not its elimination Risk is te volatility of unexpected outcomes. In te context of financial risk te volatility is in: 1. te

More information

Market shares and multinationals investment: a microeconomic foundation for FDI gravity equations

Market shares and multinationals investment: a microeconomic foundation for FDI gravity equations Market sares and multinationals investment: a microeconomic foundation for FDI gravity equations Gaetano Alfredo Minerva November 22, 2006 Abstract In tis paper I explore te implications of te teoretical

More information

AMERICAN DEPOSITARY RECEIPTS. ISFP Stephen Sapp

AMERICAN DEPOSITARY RECEIPTS. ISFP Stephen Sapp AMERICAN DEPOSITARY RECEIPTS Stepen Sapp Definition: ADRs American Depositary Receipts (ADRs) are dollardenominated negotiable securities representing a sare of a non-us company. Tis security trades and

More information

The Long (and Short) on Taxation and Expenditure Policies

The Long (and Short) on Taxation and Expenditure Policies Zsolt Becsi Economist Te Long (and Sort) on Taxation and Expenditure Policies O ne of te central issues in te 1992 presidential campaign was ow best to promote economic growt Because muc of te growt debate

More information

x f(x) D.N.E

x f(x) D.N.E Limits Consider the function f(x) x2 x. This function is not defined for x, but if we examine the value of f for numbers close to, we can observe something interesting: x 0 0.5 0.9 0.999.00..5 2 f(x).5.9.999

More information

Problem Solving Day: Geometry, movement, and Free-fall. Test schedule SOH CAH TOA! For right triangles. Last year s equation sheet included with exam.

Problem Solving Day: Geometry, movement, and Free-fall. Test schedule SOH CAH TOA! For right triangles. Last year s equation sheet included with exam. Problem Solving Day: Geometry, movement, and Free-fall. Test scedule First mid-term in 2 weeks! 7-10PM; Feb 8, Eiesland Hall. Review and practice a little eac day!!! EMAIL ME THIS WEEK if you ave class

More information

3.1 THE 2 2 EXCHANGE ECONOMY

3.1 THE 2 2 EXCHANGE ECONOMY Essential Microeconomics -1-3.1 THE 2 2 EXCHANGE ECONOMY Private goods economy 2 Pareto efficient allocations 3 Edgewort box analysis 6 Market clearing prices and Walras Law 14 Walrasian Equilibrium 16

More information

Delocation and Trade Agreements in Imperfectly Competitive Markets (Preliminary)

Delocation and Trade Agreements in Imperfectly Competitive Markets (Preliminary) Delocation and Trade Agreements in Imperfectly Competitive Markets (Preliminary) Kyle Bagwell Stanford and NBER Robert W. Staiger Stanford and NBER June 20, 2009 Abstract We consider te purpose and design

More information

Taxes and Entry Mode Decision in Multinationals: Export and FDI with and without Decentralization

Taxes and Entry Mode Decision in Multinationals: Export and FDI with and without Decentralization Taxes and Entry Mode Decision in Multinationals: Export and FDI wit and witout Decentralization Yosimasa Komoriya y Cuo University Søren Bo Nielsen z Copenagen Business Scool Pascalis Raimondos z Copenagen

More information

2.17 Tax Expenditures. Introduction. Scope and Objectives

2.17 Tax Expenditures. Introduction. Scope and Objectives Introduction Programs offered by te Province are normally outlined in te Estimates and approved by te Members of te House of Assembly as part of te annual budgetary approval process. However, te Province

More information

Raising Capital in Global Financial Markets

Raising Capital in Global Financial Markets Raising Capital in Global Financial Markets Fall 2009 Introduction Capital markets facilitate te issuance and subsequent trade of financial securities. Te financial securities are generally stock and bonds

More information

Raising Capital in Global Financial Markets

Raising Capital in Global Financial Markets Raising Capital in Global Financial Markets Fall 2010 Introduction Capital markets facilitate te issuance and subsequent trade of financial securities. Te financial securities are generally stock and bonds

More information

Lifetime Aggregate Labor Supply with Endogenous Workweek Length*

Lifetime Aggregate Labor Supply with Endogenous Workweek Length* Federal Reserve Bank of Minneapolis Researc Department Staff Report 400 November 007 Lifetime Aggregate Labor Supply wit Endogenous Workweek Lengt* Edward C. Prescott Federal Reserve Bank of Minneapolis

More information

Can more education be bad? Some simple analytics on financing better education for development

Can more education be bad? Some simple analytics on financing better education for development 55 an more education be bad? ome simple analytics on financing better education for development Rossana atrón University of Uruguay rossana@decon.edu.uy Investigaciones de Economía de la Educación 5 1091

More information

Math Winter 2014 Exam 1 January 30, PAGE 1 13 PAGE 2 11 PAGE 3 12 PAGE 4 14 Total 50

Math Winter 2014 Exam 1 January 30, PAGE 1 13 PAGE 2 11 PAGE 3 12 PAGE 4 14 Total 50 Name: Math 112 - Winter 2014 Exam 1 January 30, 2014 Section: Student ID Number: PAGE 1 13 PAGE 2 11 PAGE 3 12 PAGE 4 14 Total 50 After this cover page, there are 5 problems spanning 4 pages. Please make

More information

What is International Strategic Financial Planning (ISFP)?

What is International Strategic Financial Planning (ISFP)? Wat is International Strategic Financial Planning ()? Spring 2013 Wy do we need? Wat do we do in Finance? We evaluate and manage te timing and predictability of cas in- and outflows related to a corporation's

More information

Changing Demographic Trends and Housing Market in Pakistan

Changing Demographic Trends and Housing Market in Pakistan Forman Journal of Economic Studies Vol. 6, 2010 (January December) pp. 49-64 Canging Demograpic Trends and Housing Market in Pakistan Parvez Azim and Rizwan Amad 1 Abstract Tis paper analyzes te impact

More information

Exercise 1: Robinson Crusoe who is marooned on an island in the South Pacific. He can grow bananas and coconuts. If he uses

Exercise 1: Robinson Crusoe who is marooned on an island in the South Pacific. He can grow bananas and coconuts. If he uses Jon Riley F Maimization wit a single constraint F5 Eercises Eercise : Roinson Crusoe wo is marooned on an isl in te Sout Pacific He can grow ananas coconuts If e uses z acres to produce ananas z acres

More information

Raising Capital in Global Financial Markets

Raising Capital in Global Financial Markets Raising Capital in Global Financial Markets Fall 2011 Introduction Capital markets facilitate te issuance and subsequent trade of financial securities. Te financial securities are generally stock and bonds

More information

EconS Advanced Microeconomics II Handout on Moral Hazard

EconS Advanced Microeconomics II Handout on Moral Hazard EconS 503 - dvanced Microeconomics II Handout on Moral Hazard. Maco-Stadler, C. 3 #6 Consider a relationsi between a rincial and an agent in wic only two results, valued at 50,000 and 25,000 are ossible.

More information

Buildings and Properties

Buildings and Properties Introduction Figure 1 Te Department of Transportation and Works (formerly te Department of Works, Services and Transportation) is responsible for managing and maintaining approximately 650,000 square metres

More information

European Accounting Review, 17 (3):

European Accounting Review, 17 (3): Provided by te autor(s) and University College Dublin Library in accordance wit publiser policies. Please cite te publised version wen available. Title A Comparison of Error Rates for EVA, Residual Income,

More information

Complex Survey Sample Design in IRS' Multi-objective Taxpayer Compliance Burden Studies

Complex Survey Sample Design in IRS' Multi-objective Taxpayer Compliance Burden Studies Complex Survey Sample Design in IRS' Multi-objective Taxpayer Compliance Burden Studies Jon Guyton Wei Liu Micael Sebastiani Internal Revenue Service, Office of Researc, Analysis & Statistics 1111 Constitution

More information

2017 Year-End Retirement Action Plan

2017 Year-End Retirement Action Plan 2017 Year-End Retirement Action Plan Te end of te year is a good time to assess your overall financial picture, especially your retirement strategy. As te year comes to a close, use tis action plan to

More information

Raising Capital in Global Financial Markets

Raising Capital in Global Financial Markets Raising Capital in Global Financial Markets Spring 2012 Wat are Capital Markets? Capital markets facilitate te issuance and subsequent trade of financial securities. Te financial securities are generally

More information

INTERNATIONAL REAL ESTATE REVIEW 1999 Vol. 2 No 1: pp

INTERNATIONAL REAL ESTATE REVIEW 1999 Vol. 2 No 1: pp 0 Lin and Lin NTERNATONAL REAL ESTATE REVEW 999 Vol. No : pp. 0-5 An Estimation of Elasticities of onsumption Demand and nvestment Demand for Owner- Occupied Housing in Taiwan : A Two-Period Model u-ia

More information

INTRODUCING HETEROGENEITY IN THE ROTHSCHILD-STIGLITZ MODEL

INTRODUCING HETEROGENEITY IN THE ROTHSCHILD-STIGLITZ MODEL Te Journal of Risk and nsurance, 2000, Vol. 67, No. 4, 579-592 NTRODUCNG HETEROGENETY N THE ROTHSCHLD-STGLTZ ODEL Acim Wambac ABSTRACT n teir seminal work, Rotscild and Stiglitz (1976) ave sown tat in

More information

Calculus for Business Economics Life Sciences and Social Sciences 13th Edition Barnett SOLUTIONS MANUAL Full download at:

Calculus for Business Economics Life Sciences and Social Sciences 13th Edition Barnett SOLUTIONS MANUAL Full download at: Calculus for Business Economics Life Sciences and Social Sciences 1th Edition Barnett TEST BANK Full download at: https://testbankreal.com/download/calculus-for-business-economics-life-sciencesand-social-sciences-1th-edition-barnett-test-bank/

More information

Relaxing Standard Hedging Assumptions in the Presence of Downside Risk

Relaxing Standard Hedging Assumptions in the Presence of Downside Risk Relaxing Standard Hedging Assumptions in te Presence of Downside Risk Fabio Mattos Pilip Garcia Carl Nelson * Paper presented at te NCR-134 Conference on Applied Commodity Price Analysis, Forecasting,

More information

Production, safety, exchange, and risk. Kjell Hausken

Production, safety, exchange, and risk. Kjell Hausken Production, safety, excange, and risk Kjell Hausken Abstract: Two agents convert resources into safety investment and production wile excanging goods voluntarily. Safety investment ensures reduction of

More information

We have learned that. Marke+ng Investment and Financial Hurdle Rates. Rates of Return Are Different 10/1/15

We have learned that. Marke+ng Investment and Financial Hurdle Rates. Rates of Return Are Different 10/1/15 We ave learned tat Markeng Investment and Financial Hurdle Rates Profit Funcons associated wit Financial Investments and Profit Funcons associated wit Markeng Investments are totally different in caracter

More information

VARIANCE-BASED SAMPLING FOR CYCLE TIME - THROUGHPUT CONFIDENCE INTERVALS. Rachel T. Johnson Sonia E. Leach John W. Fowler Gerald T.

VARIANCE-BASED SAMPLING FOR CYCLE TIME - THROUGHPUT CONFIDENCE INTERVALS. Rachel T. Johnson Sonia E. Leach John W. Fowler Gerald T. Proceedings of te 004 Winter Simulation Conference R.G. Ingalls, M. D. Rossetti, J.S. Smit, and B.A. Peters, eds. VARIANCE-BASED SAMPLING FOR CYCLE TIME - THROUGHPUT CONFIDENCE INTERVALS Racel T. Jonson

More information

Econ 551 Government Finance: Revenues Winter, 2018

Econ 551 Government Finance: Revenues Winter, 2018 Econ 551 Government Finance: Revenues Winter, 2018 Given by Kevin Milligan Vancouver Scool of Economics University of Britis Columbia Lecture 4b: Optimal Commodity Taxation, Part II ECON 551: Lecture 4b

More information

Efficient Replication of Factor Returns

Efficient Replication of Factor Returns www.mscibarra.com Efficient Replication of Factor Returns To appear in te Journal of Portfolio Management June 009 Dimitris Melas Ragu Suryanarayanan Stefano Cavaglia 009 MSCI Barra. All rigts reserved.

More information

House prices, monetary policy and regional heterogeneity

House prices, monetary policy and regional heterogeneity House prices, monetary policy and regional eterogeneity Knut Are Aastveit André K. Anundsen First Version: April, 2016 Abstract Te effectiveness of monetary policy in affecting ouse prices depend bot on

More information

Labor Market Flexibility and Growth.

Labor Market Flexibility and Growth. Labor Market Flexibility and Growt. Enisse Karroubi July 006. Abstract Tis paper studies weter exibility on te labor market contributes to output growt. Under te assumption tat rms and workers face imperfect

More information

Understanding the International Elasticity Puzzle

Understanding the International Elasticity Puzzle Understanding te International Elasticity uzzle Hakan Yilmazkuday y November 28, 208 Abstract International trade studies ave iger macro elasticity measures compared to international nance studies, wic

More information

The Implicit Pipeline Method

The Implicit Pipeline Method Te Implicit Pipeline Metod Jon B. Pormann NSF/ERC for Emerging Cardiovascular Tecnologies Duke University, Duram, NC, 7708-096 Jon A. Board, Jr. Department of Electrical and Computer Engineering Duke University,

More information

Facility Sustainment and Firm Value: A Case Study Based on Target Corporation

Facility Sustainment and Firm Value: A Case Study Based on Target Corporation Facility Sustainment and Firm Value: A Case Study Based on Target Corporation Autor Robert Beac Abstract Tis paper argues tat increasing te level of facility sustainment (maintenance and repair) funding

More information

A NOTE ON VARIANCE DECOMPOSITION WITH LOCAL PROJECTIONS

A NOTE ON VARIANCE DECOMPOSITION WITH LOCAL PROJECTIONS A NOTE ON VARIANCE DECOMPOSITION WITH LOCAL PROJECTIONS Yuriy Gorodnicenko University of California Berkeley Byoungcan Lee University of California Berkeley and NBER October 7, 17 Abstract: We propose

More information

The International Elasticity Puzzle

The International Elasticity Puzzle Marc 2008 Te International Elasticity Puzzle Kim J. Rul* University of Texas at Austin ABSTRACT In models of international trade, te elasticity of substitution between foreign and domestic goods te Armington

More information

Product Liability, Entry Incentives and Industry Structure

Product Liability, Entry Incentives and Industry Structure Product Liability, Entry Incentives and Industry Structure by Stepen F. Hamilton Department of Agricultural Economics Kansas State University 331B Waters Hall Manattan, KS 66506-4011 and David L. Sunding

More information

CAMBRIDGE PUBLIC SCHOOLS FAMILY AND MEDICAL LEAVE, PARENTAL LEAVE AND SMALL NECESSITIES LEAVE POLICY

CAMBRIDGE PUBLIC SCHOOLS FAMILY AND MEDICAL LEAVE, PARENTAL LEAVE AND SMALL NECESSITIES LEAVE POLICY CAMBRIDGE PUBLIC SCHOOLS FAMILY AND MEDICAL LEAVE, PARENTAL LEAVE AND SMALL NECESSITIES LEAVE POLICY File: GCCAG Tis policy covers employee eligibility for leave under te related Family Medical Leave Act

More information

THE ROLE OF GOVERNMENT IN THE CREDIT MARKET. Benjamin Eden. Working Paper No. 09-W07. September 2009

THE ROLE OF GOVERNMENT IN THE CREDIT MARKET. Benjamin Eden. Working Paper No. 09-W07. September 2009 THE ROLE OF GOVERNMENT IN THE CREDIT MARKET by Benjamin Eden Working Paper No. 09-W07 September 2009 DEPARTMENT OF ECONOMICS VANDERBILT UNIVERSITY NASHVILLE, TN 37235 www.vanderbilt.edu/econ THE ROLE OF

More information

Financial Constraints and Product Market Competition: Ex-ante vs. Ex-post Incentives

Financial Constraints and Product Market Competition: Ex-ante vs. Ex-post Incentives University of Rocester From te SelectedWorks of Micael Rait 2004 Financial Constraints and Product Market Competition: Ex-ante vs. Ex-post Incentives Micael Rait, University of Rocester Paul Povel, University

More information

f(u) can take on many forms. Several of these forms are presented in the following examples. dx, x is a variable.

f(u) can take on many forms. Several of these forms are presented in the following examples. dx, x is a variable. MATH 56: INTEGRATION USING u-du SUBSTITUTION: u-substitution and the Indefinite Integral: An antiderivative of a function f is a function F such that F (x) = f (x). Any two antiderivatives of f differ

More information

Finite difference method for the Black and Scholes PDE (TP-1)

Finite difference method for the Black and Scholes PDE (TP-1) Numerical metods for PDE in Finance - ENSTA - S1-1/MMMEF Finite difference metod for te Black and Scoles PDE (TP-1) November 2015 1 Te Euler Forward sceme We look for a numerical approximation of te European

More information

Stochastic Dominance of Portfolio Insurance Strategies

Stochastic Dominance of Portfolio Insurance Strategies Annals of Operations Researc manuscript No. (will be inserted by te editor) Stocastic Dominance of Portfolio Insurance Strategies OBPI versus CPPI Rudi Zagst, Julia Kraus 2 HVB-Institute for Matematical

More information

Notation for the Derivative:

Notation for the Derivative: Notation for the Derivative: MA 15910 Lesson 13 Notes Section 4.1 (calculus part of textbook, page 196) Techniques for Finding Derivatives The derivative of a function y f ( x) may be written in any of

More information

The Leveraging of Silicon Valley

The Leveraging of Silicon Valley Te Leveraging of Silicon Valley Jesse Davis, Adair Morse, Xinxin Wang Marc 2018 Abstract Venture debt is now observed in 28-40% of venture financings. We model and document ow tis early-stage leveraging

More information

Liquidity Shocks and Optimal Monetary and Exchange Rate Policies in a Small Open Economy?

Liquidity Shocks and Optimal Monetary and Exchange Rate Policies in a Small Open Economy? TBA manuscript No. (will be inserted by te editor) Liquidity Socks and Optimal Monetary and Excange Rate Policies in a Small Open Economy? Joydeep Battacarya, Rajes Sing 2 Iowa State University; e-mail:

More information

A General Welfare Decomposition for CGE Models

A General Welfare Decomposition for CGE Models urdue University urdue e-ubs GTA Tecnical apers Agricultural Economics 1-1-2000 A General Welfare Decomposition for CGE Models Kevin J Hanslow roductivity Commission, Australia Follow tis and additional

More information

The Redistributive Effects of Quantitative Easing

The Redistributive Effects of Quantitative Easing Te Redistributive Effects of Quantitative Easing Developing an illustrative model of te key mecanisms of Quantitative Easing By Mark van der Plaat * Abstract: Since te Financial crisis of 2007-8, multiple

More information

Math Fall 2016 Final Exam December 10, Total 100

Math Fall 2016 Final Exam December 10, Total 100 Name: Math 111 - Fall 2016 Final Exam December 10, 2016 Section: Student ID Number: 1 15 2 13 3 14 4 15 5 13 6 15 7 15 Total 100 You are allowed to use a Ti-30x IIS Calculator (only this model!), a ruler,

More information

Foreign Direct Investment and the Choice of Environmental Policy

Foreign Direct Investment and the Choice of Environmental Policy Foreign Direct Investment and te Coice o Environmental Policy Ida Ferrara, Paul Missios y and Halis Murat Yildiz z Marc 6, 011 Abstract We use an oligopoly model o intra-industry trade to amine te implications

More information

Labor Market Flexibility and Growth.

Labor Market Flexibility and Growth. Labor Market Flexibility and Growt. Enisse Karroubi May 9, 006. Abstract Tis paper studies weter exibility on te labor market contributes to output growt. First I document two stylized facts concerning

More information

Computing Derivatives With Formulas (pages 12-13), Solutions

Computing Derivatives With Formulas (pages 12-13), Solutions Computing Derivatives With Formulas (pages 12-13), Solutions This worksheet focuses on computing derivatives using the shortcut formulas, including the power rule, product rule, and quotient rule. We will

More information

MA Lesson 13 Notes Section 4.1 (calculus part of textbook, page 196) Techniques for Finding Derivatives

MA Lesson 13 Notes Section 4.1 (calculus part of textbook, page 196) Techniques for Finding Derivatives Notation for the Derivative: MA 15910 Lesson 13 Notes Section 4.1 (calculus part of tetbook, page 196) Techniques for Finding Derivatives The derivative of a function y f ( ) may be written in any of these

More information

An Economic Model of the Stages of Addictive Behavior

An Economic Model of the Stages of Addictive Behavior 1 An Economic Model of te Stages of Addictive Beavior Marysia Ogrodnik a, 1 a Centre d Economie de la Sorbonne (CES), Université Pantéon-Sorbonne, 106-112 Boulevard de l Hôpital 75647 Paris Cedex 13 France

More information

MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. C) y = - 39x - 80 D) y = x + 8 5

MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. C) y = - 39x - 80 D) y = x + 8 5 Assn 3.4-3.7 Name MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. Find the equation of the tangent line to the curve when x has the given value. 1)

More information

Growth transmission. Econ 307. Assume. How much borrowing should be done? Implications for growth A B A B

Growth transmission. Econ 307. Assume. How much borrowing should be done? Implications for growth A B A B Growt transmission Econ 307 Lecture 5 GDP levels differ dramatically across countries Wy does tis not open up uge gains from trade? According to te most simple model, very low GDP countries sould ave very

More information

POVERTY REDUCTION STRATEGIES IN A BUDGET- CONSTRAINED ECONOMY: THE CASE OF GHANA

POVERTY REDUCTION STRATEGIES IN A BUDGET- CONSTRAINED ECONOMY: THE CASE OF GHANA POVERTY REDUCTION STRATEGIES IN A BUDGET- CONSTRAINED ECONOMY: THE CASE OF GHANA Maurizio Bussolo Economic Prospects Group, Te World Bank and Jeffery I Round Department of Economics, University of Warwick

More information

Applying Alternative Variance Estimation Methods for Totals Under Raking in SOI s Corporate Sample

Applying Alternative Variance Estimation Methods for Totals Under Raking in SOI s Corporate Sample Applying Alternative Variance Estimation Metods for Totals Under Raking in SOI s Corporate Sample Kimberly Henry 1, Valerie Testa 1, and Ricard Valliant 2 1 Statistics of Income, P.O. Box 2608, Wasngton

More information

DATABASE-ASSISTED spectrum sharing is a promising

DATABASE-ASSISTED spectrum sharing is a promising 1 Optimal Pricing and Admission Control for Heterogeneous Secondary Users Cangkun Jiang, Student Member, IEEE, Lingjie Duan, Member, IEEE, and Jianwei Huang, Fellow, IEEE Abstract Tis paper studies ow

More information

Trade Complementarity Between South Korea And Her Major Trading Countries: Its Changes Over The Period Of *

Trade Complementarity Between South Korea And Her Major Trading Countries: Its Changes Over The Period Of * World Review of Business Researc Vol. 3. No. 2. Marc 2013 Issue. Pp. 64 83 Trade Complementarity Between Sout Korea And Her Major Trading Countries: Its Canges Over Te Period Of 2005-2009* Seung Jin Kim**

More information

Evidence of Engel curves in food away from home: A study of Malaysia

Evidence of Engel curves in food away from home: A study of Malaysia MPRA Munic Personal RePEc Arcive Evidence of Engel curves in food away from ome: A study of Malaysia (Jon) Yeong-Seng Tey and Mad Nasir Samsudin and Zainalabidin Moamed and Amin Mair Abdulla and Alias

More information

Hedging Segregated Fund Guarantees

Hedging Segregated Fund Guarantees Hedging Segregated Fund Guarantees Heat A. Windcliff Dept. of Computer Science University of Waterloo, Waterloo ON, Canada N2L 3G1. awindcliff@elora.mat.uwaterloo.ca Peter A. Forsyt Dept. of Computer Science

More information

South Korea s Trade Intensity With ASEAN Countries and Its Changes Over Time*

South Korea s Trade Intensity With ASEAN Countries and Its Changes Over Time* International Review of Business Researc Papers Vol. 8. No.4. May 2012. Pp. 63 79 Sout Korea s Trade Intensity Wit ASEAN Countries and Its Canges Over Time* Seung Jin Kim** Tis paper analyzes ow Korea

More information

Who gets the urban surplus?

Who gets the urban surplus? 8/11/17 Wo gets te urban surplus? Paul Collier Antony J. Venables, University of Oxford and International Growt Centre Abstract Hig productivity in cities creates an economic surplus relative to oter areas.

More information

TRADE FACILITATION AND THE EXTENSIVE MARGIN OF EXPORTS

TRADE FACILITATION AND THE EXTENSIVE MARGIN OF EXPORTS bs_bs_banner Vol. 65, No. 2, June 2014 Te Journal of te Japanese Economic Association TRADE FACILITATION AND THE EXTENSIVE MARGIN OF EXPORTS By ROBERT C. FEENSTRA and HONG MA doi: 10.1111/jere.12031 University

More information

Lecture 11 - Business and Economics Optimization Problems and Asymptotes

Lecture 11 - Business and Economics Optimization Problems and Asymptotes Lecture 11 - Business and Economics Optimization Problems and Asymptotes 11.1 More Economics Applications Price Elasticity of Demand One way economists measure the responsiveness of consumers to a change

More information

Bayesian range-based estimation of stochastic volatility models

Bayesian range-based estimation of stochastic volatility models Finance Researc Letters (005 0 09 www.elsevier.com/locate/frl Bayesian range-based estimation of stocastic volatility models Micael W. Brandt a,b,, Cristoper S. Jones c a Fuqua Scool of Business, Duke

More information

Supplemantary material to: Leverage causes fat tails and clustered volatility

Supplemantary material to: Leverage causes fat tails and clustered volatility Supplemantary material to: Leverage causes fat tails and clustered volatility Stefan Turner a,b J. Doyne Farmer b,c Jon Geanakoplos d,b a Complex Systems Researc Group, Medical University of Vienna, Wäringer

More information

Journal of Corporate Finance

Journal of Corporate Finance Journal of Corporate Finance 9 (23) 9 39 Contents lists available at civerse ciencedirect Journal of Corporate Finance journal omepage: www.elsevier.com/locate/jcorpfin Production and edging implications

More information