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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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(1)i(p, u) is zero homogeneous in p (2) substitution matrix: Dpi(p, u)<0 (3)symmetric cross-price effects: 23i(p 2=2z(p, u) (4) decreasing:=n≤0
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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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第四章复式记账原理及其应用 一、复式记账原理 二、借贷记账法 三、借贷记账法的应用
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5. Oligopoly Oligopoly: Small number of firms: Firms depend on each other. Identical products: Firms jointly face a downward sloping industry demand No entry: Long-run positive profits are possible
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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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一、医用 二、食用 三、工业用 四、指示植物 五、农业用 六、观赏
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Media and especially mass media like newspapers or magazines are characterised by a number of peculiarities which are interesting from both a theoretical and empirical point of view. The interrelationship of reader
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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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一、课程性质 二、教学目标 三、教学内容 四、教学组织 五、教学材料
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