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一、单项选择 1、“一国两制”构想的提出是从解决()开始的。 A.香港问题 B.台湾问题C.澳门问题D.西藏问题 2、澳门特别行政区的回归于()。 A.1999年1月1日 B.1999年5月1日 C.1999年1月20日 D.2000年1月1日
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一、单项选择 1、《关于香港问题的联合声明》的签署是在( )。A.1979年 B.1980年C.1982年D.1984年 2、我国外交战略的基本目标是( )A.互不涉内政B.互相 尊重主权和领土完整C.反对霸权主义,维护世界和平D.加强同第三世界的 团结与合作
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1. Producer Theory 1. Technology yi =input of good i, y =output of good i, i= yi-yi=net output, y yn) is a production plan Production possibility set Y=technologically feasible production plans yE Rn) y E Y is technologically efficient if there is no yE Y s.t. y>y
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This formula applies to any type of firms in the output market 1. Competitive Output Market Competitive industry: Many firms: Firms are independent of each other in decision making Identical product: Each firm faces a horizontal demand curve at the market price Free entry: Zero profit in the long run A competitive firm takes the market price as given. For a given market price p
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Equilibrium price. Equilibrium allocation: x=xi(p,p·w2), Note: A p* for any >0 is also an equilibrium price. Offer curve: (p)(p, p. w;). The equilibrium is the intersection point of the offer curves. Excess demand function:
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Production Plans with Multiple Outputs Lety≡(m,,…,ym) be a net output vector, YArn be a convex set,G:Y→R be twice differentiable Production possibility set:{y∈Y|G(y)≤0} Assumption 1.1. Gy (y)>0, Vi,yEY. Proposition 1. 12. Production frontier yEY G(y)=0 contains technologically efficient production plans Definition 1.1. Marginal rate of transformation
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Optimization See Sydsaeter(2005, Chapters 2, 3)and Chiang(1984, Chapters 9, 11, 12 and 21) Positive definite matrix Definite matrices are directly related to optimization. A symmetric matrix A is positive semi- definite(A≥0) if rAr≥0,Vx; positive definite(A>0)
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Corporate finance 1. Theoretical Approaches 1.1. Corporate Finance in Arrow-Debreu world Complete market, perfect market, perfect competition, symmetric information, private consumption Risk: risk sharing, risk pooling, technology shocks, individual vs aggregate shocks Lucas(1978): existence of equilibrium asset price Merton: continuous-time pricing model
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Problem set 2 Micro Theory S. Wang Question 2. 1. You have just been asked to run a company that has two factories produc ing the same good and sells its output in a perfectly competitive market. The production
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8.1. Independent Firms The downstream firm's problem is max(a-bxc-wT The upstream firm's problem is max(a-2b)3-cr The output is 8.2. Integrated Firm Suppose now that the two firms merge into one firm. This firms problem is max(a-by)y
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