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explain Stolper-Samuelson Theorem with diagram
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- What are the three Gauss–Markov conditions? Explain.Analyse the main proposition of the Heckscher-Ohlin theory and StolperSamuelson theorem.The Cinema Center consists of four theaters: Cinemas I, II, III, and IV. The admission price for one feature at the Center is $6 for children, $8 for students, and $10 for adults. The attendance for the Sunday matinee is given by the matrix. Children Students Adults Cinema I 235 110 70 A = Cinema II 95 190 235 Cinema III 300 70 110 Cinema IV 0 220 235 Write a column vector B representing the admission prices. B = 6 8 10 Compute AB, the column vector showing the gross receipts for each theater. AB = Find the total revenue collected at the Cinema Center for admission that Sunday afternoon.$
- Explain the Stolper-Samuelson theorem and Rybczynski theorem.Define the conditions for a weakly quasi-concave Cobb-Douglas FunctionA lake has two species of fish: bass and catfish. The number of bass and catfish living in the lake, B and C respectively, depend on the temperature of the lake, T (in degrees Farenheit). The functions modeling this dependency are given below: B(T) = 8T2 + 976T – 28890 С(Т) 3D — 2T?+244T — 6893 What are the two temperatures at which the number of bass in the lake is the same as the number of catfish? Enter exact expressions or round your answers to the nearest thousandth. T : T
- Define a weakly concave on the Cobb-Douglas FunctionFor a certain company, the cost for producing x items is 60x + 300 and the revenue for selling x items is 100x – 0.5x². - The profit that the company makes is how much it takes in (revenue) minus how much it spends (cost). In economic models, one typically assumes that a company wants to maximize its profit, or at least wants to make a profit! Part a: Set up an expression for the profit from producing and selling x items. We assume that the company sells all of the items that it produces. (Hint: it is a quadratio polynomial.) Part b: Find two values of x that will create a profit of $300. The field below accepts a list of numbers or formulas separated by semicolons (e.g. 2; 4; 6 or x + 1; x – 1). The order of the list does not matter. To enter va, type sqrt(a). x = Part c: Is it possible for the company to make a profit of $15,000?Is it possible to explain this via midpoint formula? I appreciate it by the way.
- State the Gauss-Markov Theorem.The manager of a hockey arena is pricing tickets for an upcoming game. She knows that if she increases the ticket price she will sell fewer tickets. The situation is modelled by the relation, R = -88.9p^2 + 2667p, where R is the total revenue and p is the ticket price, both in dollars. The graph is given.Given the two functions below: y=10e-0.5q and y=7ln5q Draw the two functions for the interval -1<q<3. From the diagram drawn identify which of the two functions represents the demand curve, supply curve and name the intercept(s) formed. Economically, it is said that equilibrium is established when the demand curve intercepts the supply curve. Hence or otherwise, determine the equilibritum price and quantity.
