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Sunday, January 18, 2015

Eco402 midterm fall 2014 Paper date 18/1/15

Eco402 midterm fall 2014
1. differentiate between the shape of engel curve for normal good & inferior good with the help of diagram.
2. In capital intensive country. when the amount of capital in a production process increase from 50,000 to 60,000, the amount of labor decrease from 120 to 150. calculate marginal rate of technical substitution (MRTS) with help of above information.
3. consider a lottery with three possible outcomes: Rs. 1,000 will be received with probability 0.1, Rs.500 with probability 0.2, and Rs.2,000 with probability 0.7. what is expected value of the lottery.
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» »Unlabelled » Eco402 midterm fall 2014 Paper date 18/1/15

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Eco402 midterm fall 2014
1. differentiate between the shape of engel curve for normal good & inferior good with the help of diagram.
2. In capital intensive country. when the amount of capital in a production process increase from 50,000 to 60,000, the amount of labor decrease from 120 to 150. calculate marginal rate of technical substitution (MRTS) with help of above information.
3. consider a lottery with three possible outcomes: Rs. 1,000 will be received with probability 0.1, Rs.500 with probability 0.2, and Rs.2,000 with probability 0.7. what is expected value of the lottery.
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