MICRO CLASS 2 QUESTIONS
微观经济课业代写 1.(a) Hena is risk averse. Suppose she owns a house worth ω, which could be burned down (reducing its worth to 0) with probability z.
1.
(a) Hena is risk averse. Suppose she owns a house worth ω, which could be burned down (reducing its worth to 0) with probability z. Suppose that Hena can buy insurance at a rate which is actuarially fair (each unit of insurance costs z). How much insurance should she buy?
(b) Suppose now that Hena is risk neutral. If insurance costs p > z per unit, how much insurance will she buy?
2. 微观经济课业代写
(a) A firm has inputs z1 and z2, prices p1 and p2, output y and production function f(z1, z2). How will they maximise their profits?
(b) How will they minimise cost?
3. 微观经济课业代写
At income level M, good X and Y are both consumed, at income level M0 >M, the amount of X goes down and that of Y increases, i.e. X is an inferior good in this range. Show that it must have been a normal good at some income range.
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