TEST BANK FOR Microeconomic Analysis 3rd Edition By Hal R. Varian
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Exam (elaborations) TEST BANK FOR Microeconomic Analysis 3rd Edition By Hal R. Varian (Solution Manual)
- Exam (elaborations) • 53 pages • 2021
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Chapter 1. Technology
1.1 False. There are many counterexamples. Consider the technology
generated by a production function f(x) = x2. The production set is
Y = f(y;−x) : y x2g which is certainly not convex, but the input requirement
set is V (y) = fx : x
p
yg which is a convex set.
1.2 It doesn't change.
1.3 1 = a and 2 = b.
1.4 Let y(t) = f(tx). Then
dy
dt
=
Xn
i=1
@f(x)
@xi
xi;
so that
1
y
dy
dt
=
1
f(x)
Xn
i=1
@f(x)
@xi
xi:
1.5 Substitute txi for i = 1;...
Exam (elaborations)
Exam (elaborations) TEST BANK FOR Microeconomic Analysis 3rd Edition By Hal R. Varian (Solution Manual)
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ago
Chapter 1. Technology 1.1 False. There are many counterexamples. Consider the technology generated by a production function f(x) = x2. The production set is Y = f(y;−x) : y x2g which is certainly not convex, but the input requirement set is V (y) = fx : x p yg which is a convex set. 1.2 It doesn't change. 1.3 1 = a and 2 = b. 1.4 Let y(t) = f(tx). Then dy dt = Xn i=1 @f(x) @xi xi; so that 1 y dy dt = 1 f(x) Xn i=1 @f(x) @xi xi: 1.5 Substitute txi for i = 1;...
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