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Economics

University

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### Question

INSTRUCTIONS: Do the following exercises and submit your results as a single PDF le using the link provided in the LMS. Provide complete and clear answers. Hand written answers are acceptable but need to be neat and well formatted. The weight marks for exercises 1, 2 and 3 below are 30, 50 and 20, respectively. If you have questions about this assignment, post them on the discussion board or ask during the last session so that any clari caitons can be provided in class. 1) Given the single-input production function y = 3x 1 2 , answer the following questions. a) Show that the input distance function is ID(x; y) = 9x y2 . b) Derive the output distance function OD(x; y). c) Derive the directional distance function DD(x; y). For this exercise assume that the direction vector used for the translation of the input- output vector (x; y) is g = (0; gy), i.e. this is an output directional distance function. d) Complete the following table by inserting for each observed input out- put combination the input-oriented technical eciency (TEx), output- oriented technical eciency (TEy) and the input/output/directional distance function values. Assume gy = 1 in the calculation of the di- rectional distance function values

### ECON5005 production economics and efficiency analysis

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## More Econ5005 ECON5005 production economics and efficiency analysis: Questions & Answers

Q

Assessment Objectives Students should be able to demonstrate their learning from the module in the essay in the following broad areas: • Demonstrate knowledge and understanding of the importance of creativity and innovation to national industrial, economic and social development across all type ...

Q

Question 1 provide a summary of the entire essay (i.e. an abstract), highlighting the overall objectives of your research, scope of analysis, methodologies, and major findings. Question 2use the economic concepts and theories (e.g. supply, demand, consumer and producer surplus, marginal cost and be ...

Q

Task: Part 1 Vo'hat is a Veblen product (good or service)? What conditions determine the demand for Veblen products? Do such goods contradict the law of demand? In your essay. describe and discuss the fundamentals of microeconomic theory behind the Veblen effect Evaluate how businesses use the ...

Q

To be at least APA format should be used. This will be a formal academic research paper. Papers will be assessed, and comments given, based on their:1.Style. Is the paper clearly written? Is the spelling and grammar correct? Is it interesting to read?2.Structure. Does the paper develop in a way that ...

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