What is a discontinuous function? Discuss the two types of discontinuous functions along with their diagrams.
See Answer →With respect to the applications of dynamic optimisation, explain the optimal rate of extraction of exhaustible resources by monopoly.
See Answer →Consider a consumer who buys two goods, x and y with utility function u(x, y) = 2√x + y. The consumer's income is 20 and price of y is 4. Compute the optimal consumption bundle when the price of x is equal to 1 using constrained optimisation.
See Answer →Explain the necessary and sufficient conditions in case of unconstrained optimisation.
See Answer →Pooling and separating equilibrium
See Answer →Economies of Scale
See Answer →Bilateral monopoly
See Answer →Different types of price discrimination
See Answer →Radha has assets worth 10,000 rupees and is facing a loss of 3,600 with a probability of 0.002. She is indifferent between paying G rupees for insurance protection and assuming the risk of loss personally. She values total assets of amount w≥0 according to the utility function u (w) = w1/2. Determine G.
See Answer →Do you think that a risk-averse individual gamble or will a risk lover purchase insurance? Explain your answer.
See Answer →There are two firms 1 and 2 in an industry, each producing output Q1 and Q2 respectively and facing the industry demand given by P=50-2Q, where P is the market price and Q represents the total industry output, that is Q= Q1 + Q2. Assume that the cost function is C = 10 + 2q. Solve for the Cournot equilibrium in such an industry.
See Answer →Do you agree that by paying higher than the minimum wage, employers can retain skilled workers, increase productivity, or ensure loyalty? Comment on the statement in the light of efficiency wage model.
See Answer →From the following pay-off matrix, determine:
(i) The optimal strategy for each individual.
(ii) Value of the game.
| Player 1 | Player 2 | |||||
| Strategies | I | II | III | IV | V | |
| I | 9 | 3 | 1 | 8 | 0 | |
| II | 6 | 5 | 4 | 6 | 7 | |
| III | 2 | 4 | 3 | 3 | 8 | |
| IV | 5 | 6 | 2 | 2 | 1 | |
See Answer →
Differentiate between Cooperative and non-cooperative game theory.
See Answer →Suppose the demand for a product is given by p=d (q)=−0.8q+150 and the supply for the same product is given by p=s(q)=5.2q For both functions, q is the quantity and p is the price. Find out producer surplus and consumer surplus.
See Answer →How is Cournot’s model of oligopoly different from Bertrand’s model of oligopoly?
See Answer → Given a Cobb-Douglas utility function
U (X, Y) = X1/2 Y1/2
,
Where X and y are the two goods that a consumer consumes at per unit prices of Px and
Py respectively. Assuming the income of the consumer to be Rs.M, determine:
a. Marshallian demand function for goods X and Y.
b. Indirect utility function for such a consumer.
c. The maximum utility attained by the consumer where α =1/2, Px =Rs.2, Py = Rs. 8 and
M= RS. 4000.
d. Derive Roy’s identity.
Techno economic Evaluation
See Answer →Optimum hybrid energy system
See Answer →Econologic Model or Economic Man Model
See Answer →