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ECS3708 ASSESSMENT 2 SEMESTER 1 2024
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ECS3708 ASSESSMENT 2 SEMESTER 1 2024
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ECS3708 ASSEMMENT 2 SEMESTER 1 2024
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ECS3708 Assessment 02 (Semester 1, 2024)
Please note, this document contains excessive information, please trim it to
reasonable size roughly 6 to 10 pages, you may no use everything
which is featured in this document
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Question 1
Suppose that the consumer has a Cobb Douglas utility function:
𝑈(𝑋1 , 𝑋2 ) = 𝛼𝑙𝑛𝑋1 + 𝛽𝑙𝑛𝑋2
Determine the marginal rate of substitution of 𝑋1 for 𝑋2. (4)
α
𝑀𝑈𝑋1 =
𝑋1
β
𝑀𝑈𝑋2 =
X2
𝑀𝑈𝑋1 α 𝑋2
𝑀𝑅𝑆𝑋1𝑋2 = =
𝑀𝑈𝑋2 β 𝑋1
Question 2
Suppose a share in Company A is forecasted to be R11 in the next period. If a share
similar to Company A is paying a rate of return of 10%, what must be the current price
of the share in Company A (5)
FV = 11
Rate = 10%
𝑃𝑉 = 𝐹𝑉(1 + 𝑟)−1
11
=
1,1
= 𝑅10
2
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