1. If {Bk} are events such that
2. If F is a distribution function, then F has at most countably many discontinuities
1. In which process of water softening, ion exchange phenomenon takes place?
1. In what time period are all factors of production variable?
2. What is technical efficiency?
3. Why do diminishing returns occur in the short run?
4. Define constant returns to scale.
1. In which process of water softening, ion exchange phenomenon takes place?
1. In the waiting state
a. the processes waiting for I/O are found
b. the process which is running is found
c. the processes waiting for the processor are found
d. none of the above
1. In the following series/ parallel circuit, the total resistance is 20 ohms, what is R? 12 2. In following circuit, R1 is 30 ohms, what is R2? 2 amps 5 amps ? R1 R2 3. If a circuit consumed 2 MWatts and operated for a period of 45 minutes at a cost of 6 cents/KWH, how much would the electricity cost? 4. If the voltmeter is reading 30 volts, what is the value of V (battery voltage)? 5 vE20 5. What battery voltage is required in order for the circuit to consume 2 watts? 10 70 20
Attachments:
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1. In the short run, why might a firm in perfect competition continue production even though it is making a loss?
2. In which market is the firm a price maker?
3. What happens to abnormal profits in the long run in a monopoly?
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Econ 4020 – Dr. Rupp
Homework#5 – Taxes
Due – Feb 27 (at start of class)
1. In the above market for cheese – how much is the producer surplus at the initial equilibrium
(before a tax is introduced)?
2. Suppose that there is a $2.50 tax imposed on cheese per pound. Find the new equilibrium price
that buyers will pay for cheese. Label this Pb on your graph. Find the new equilibrium price that
sellers will receive. Label this Ps on your graph. Find the new equilibrium quantity.
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3. Pin stripe the region of the new producer surplus on your graph after the $2.50 tax is imposed.
Calculate the new region of producer surplus. What has happened to producer surplus after the
tax has been imposed?
4. Calculate the total tax revenue collected from a $2.50 per pound tax. How much of this tax
revenue is paid by the buyers of cheese? How much is paid by the sellers of cheese?
5. Heavily shade the region of deadweight loss on your graph. Calculate this deadweight loss area.
6. Using the figure 2 below, where the vertical distance between points A and B represent the tax
in this market, what is the amount of the tax per unit?
Figure 2
7. Using the figure 2 above, find the per unit burden of the tax on sellers.
8. Using the figure 2 above, find the tax revenue collected. Horizontal stripe the tax revenue
collected from the buyers, and pin stripe the tax revenue collected from the sellers. Document Preview:
Name______________________________ Pledge (sign)_________________________ “I did not copy another student’s homework) Econ 4020 – Dr. Rupp Homework#5 – Taxes Due – Feb 27 (at start of class) 1. In the above market for cheese – how much is the producer surplus at the initial equilibrium (before a tax is introduced)? 2. Suppose that there is a $2.50 tax imposed on cheese per pound. Find the new equilibrium price that buyers will pay for cheese. Label this Pb on your graph. Find the new equilibrium price that sellers will receive. Label this Ps on your graph. Find the new equilibrium quantity.Name______________________________ Pledge (sign)_________________________ “I did not copy another student’s homework) 3. Pin stripe the region of the new producer surplus on your graph after the $2.50 tax is imposed. Calculate the new region of producer surplus. What has happened to producer surplus after the tax has been imposed? 4. Calculate the total tax revenue collected from a $2.50 per pound tax. How much of this tax revenue is paid by the buyers of cheese? How much is paid by the sellers of cheese? 5. Heavily shade the region of deadweight loss on your graph. Calculate this deadweight loss area. 6. Using the figure 2 below, where the vertical distance between points A and B represent the tax in this market, what is the amount of the tax per unit? Figure 2 7. Using the figure 2 above, find the per unit burden of the tax on sellers. 8. Using the figure 2 above, find the tax revenue collected. Horizontal stripe the tax revenue collected from the buyers, and pin stripe the tax revenue collected from the sellers.
Attachments:
hw5.pdf
1. In the example given for the knapsack problem, the items are sorted by size. Does the algorithm still work properly if they appear in arbitrary order?
2. Modify the knapsack program to take into account another constraint defined by an array that contains the number of available items of each type.
3. What would the knapsack program do if one of the values were negative?
1.In the 1980s and 1990s many states passed Any-Willing-Provider (AWP) legislations that require managed care organizations to accept any provider into their network if the provider agreestotheconditions,termsandreimbursementrates. Supposeyouarehiredbyanagency to estimate the effect of AWP legislation on state-level hospital and physician expenditures (EXP). You have state-level data on expenditures, year AWP law passed, and demographic and health characteristics spanning 1980 through 1998. Note that both EXP and AWPvary across years and states. The state-level demographic and health characteristics include population density, percent of the population of African American race, HMO market share, real per capita income and unemployment rate. Assume that data are available for 50 states. A.[20 Points] What approach would you use to estimate the effect of the policy change (i.e.,AWP) on total hospital and physician expenditures? Specify your model (the equation and important assumptions), and then explain your estimation approach. B. [10 Points] Do we need to worry about potential endogeneity in AWP? Explain. Hint: You have panel data on 50 states (n= 50) and 9 years (t = 9). In part (A), set-up a linear panel data model with dependent variable EXP?? and key explanatory variable AWPit, other regressors (population,….unemployment rate), year dummies, individual effects and the idiosyncratic error term. Note AWPit = 1 if state i passed the law (or the law was in effect) during year t. Depending on the assumptions you make, you can in principle use fixed effects, random effects or first difference. You need to explain your chosen approach. The FE estimator might be preferable, though. For part (B), explain why the AWP legislation might be endogenous. Basically, if the AWP legislation is related to the underlying changes in health expenditures, then AWP may be endogenous. This is the so called policy endogeneity. If states implement the legislation in response to upward trends in health expenditures, then AWP may be correlated with the idiosyncratic error term.
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