1. Calculate the Transversality Conditions
2. and then solve the ff:
a.) Ux +Uy =1-U
U (X, X+X^2) = SIN X
b) XUx + YUy= 4U
with initial condition u=1 on the unit circle x^2 +y^2 =1
( you will need to parameterize the circle in terms of parameter
r).
Hui's utility function is U(x,y) = 1.6x+y2. As usual,
let MRS=Ux / Uy be Hui's marginal rate of substitution. What is the
value of the derivative dMRS/dx at the point were x=4.9 and
y=7.7?
Given Fxy(x,y)=u(x)u(y)[1-Exp(-x/2)-Exp(-y/2)+Exp(-(x+y)/2)].
Note: The step functions mean that Fxy(x,y)=0 for either or both
x<0 and y<0. Any x or y argument range below zero must be
truncated at zero. Determine:
a) P{X<=1,Y<=2} Ans: 0.2487
b) P{0.5<X<1.5} Ans: 0.3064
c) P{-1.5<X<=2, 1<Y<=3} Ans: 0.2423
1. solve the IVP: xy''-y/x=lnx, on (0, inifnity), y(1)=-1,
y'(1)=-2
2.solve the IVP: y''-y=(e^x)/sqrtx, y(1)=e, y'(1)=0
3. Given that y1(x)=x is a solution of xy''-xy'+y=0 on (0,
inifinity, solve the IVP: xy''-xy'+y=2 on(0,infinity), y(3)=2,
y'(3)=1
14. solve the IVP: X'=( 1 2 3) X, X(0)=(0
##################0 1 4####### -3/8
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Suppose that a consumer is at a bundle,
(x0,y0), such that Ux/px > Uy/py. Assume a
well-behaved utility function.
(a) Represent this situation graphically, in the commodity space
(hint: you will have an indifference curve, a budget line, and the
point (x0,y0)).
(b) What change in consumption will this consumer need to make so
that Ux/ px = Uy/py and why.