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  1. (25 pts) A consumer likes to have a good in quantity  that is equal to
    the quantity  consumed of other good. More of any of the goods alone doesn’t
    improve utility.
    a. (2 pts) What types of goods are these? Represent her preferences using
    the  −  for  and the  −  for 
    b (4 pts) Give an example of a pair of goods that have the relationship you
    stated in a (e.g. coffees and donuts in a given period of time).
    c (6 pts) Call the price of the first good and  the price of the second
    good. Suppose that the consumer has a monthly income  Derive the equations
    for: 1) the demand of  2) the demand of  3) the Engel curve of , 4) the
    Engel curve of . Explain intuitively the meaning of each.
    d (6 pts) Choose any numbers you like for  and  Fix  = 100 At the
    prices you have chosen, what are the demands for  and ? Next, raise the
    price  leaving  and  unchanged What are the demands for  and 
    now? Graph both equilibriums.
    e (5 pts) Describe the substitution and the income effects corresponding to
    f (2 pts) Label your indifference curves. How does the utility change?
  2. (25 pts.) We have obtained the cost function of a firm (under given
    imput prices) as () = ()+() in a problem with  and  imperfect
    a (2 pts) What are () and ()? What do they mean?
    b (5 pts) How we compute () and () from the graphical equilibrium
    solution to   ( + ) s.t.  = ( ) (only cite the two equations that
    we use with imperfect substitutes, no need to solve).
    c (5 pts) Suppose we know that the equilibrium with  =  = 1 gives
    () = () =  Compute () and 
    d (6 pts) It happens that the wage increases to  = 2 and somebody inmediately claims: “ is now 3” Is this calculation right? If it is wrong explain
    e (7 pts) Explain graphically the effect of a raise in the wage on () and
    3 (25 pts) Electricity supply in a geographical area depends on a monopolist.
    The cost function of the monopolist is () =  +  The fixed costs are due
    to the cost of the distribution grid and marginal cost is a production cost.
    a (3 pts). Draw the  and  curves of the monopolist and explain if we
    are facing a “natural monopoly” technology and why.
    b (3 pts). Demand is  = 1 −  What would the monopolist say if the
    area regulator asks it to produce and sell at ? Illustrate the problem with
    a diagram
    c. (3 pts) Suppose that regulator accepts a price that gives no extra profits.
    What is this price? Show the equation that you will use to compute it (do not
    compute anything).
    d. (3 pts) Illustrate graphically solution c. Is the price above ? Does
    this imply a welfare loss with respect to solution b? If so, graph the loss.
    e. (4 pts) Regulator thinks that is better to apply a “two-part tariff” solution.
    What is a two-part tariff? What would be the optimal parts of the solution with
     identical consumers?
    f. (4 pts) Write an equality that shows that welfare under a two part tariff
    solution equals welfare under solution b. What is the distributional change?
    Government of the area decides now to take in charge distribution with a
    state owned firm and have two competing firms producing electricity so we will
    have  = 1 + 2. Firms cost functions are  =  for  = 1 2 and they
    compete as Cournot players.
    g (5 pts). Compute and represent in a diagram the reaction functions of
    both oligopolists. Explain the meaning of the intercepts.
    4 (25 pts). The figure represents the variation of the profits of two firms
    (firm 1 and firm 2) according to the level  of some action. Firm 1 chooses 
    There is no market for .
    a) (3 pts) In words, what does 1
     mean? On the graph 1
     decreases in 
    and becomes negative. Why do you think this is the case?
    b) (4 pts) What is the line that represents 2
     (notice that the graphical
    representation draws − 2
     with a solid line)? Recall firm 2 doesn’t control 
    Tell why 2
     represents an externality and what type of externality.
    c) (5 pts) Give an example of a firm taking an action  that can be illustrated
    as in the figure (e.g. an apicultor plants flowers and the beauty of the view
    attracts tourists to a close hotel).
    d) (3 pts) Label the competitive equilibrium on the graph. What is the
    profit maximization condition for firm 1? Explain what this means intuitively.
    e) (4 pts) The optimal solution happens when 1
     + 2
     = 0 Describe how
    you can easily obtain this condition from maximization (no math necessary).
    Label the optimal equilibrium on the graph.
    f) (3 pts) Does the optimal solution imply bigger or smallr level of  than in
    the competitive equilibrium? Explain intuitively why in terms of your example.
    g) (3 pts) The value − suggests a solution to the non-optimality of the
    competitive equilibrium. What kind of solution is (quotas, fiscal, negociation)?
    Explain how it works.

Sample Answer

Compelling correspondence is essential to the achievement all things considered but since of the changing idea of the present working environments, successful correspondence turns out to be more troublesome, and because of the numerous impediments that will permit beneficiaries to acknowledge the plan of the sender It is restricted. Misguided judgments.In spite of the fact that correspondence inside the association is rarely completely open, numerous straightforward arrangements can be executed to advance the effect of these hindrances.

Concerning specific contextual analysis, two significant correspondence standards, correspondence channel determination and commotion are self-evident. This course presents the standards of correspondence, the act of general correspondence, and different speculations to all the more likely comprehend the correspondence exchanges experienced in regular daily existence. The standards and practices that you learn in this course give the premise to additionally learning and correspondence.

This course starts with an outline of the correspondence cycle, the method of reasoning and hypothesis. In resulting modules of the course, we will look at explicit use of relational connections in close to home and expert life. These incorporate relational correspondence, bunch correspondence and dynamic, authoritative correspondence in the work environment or relational correspondence. Rule of Business Communication In request to make correspondence viable, it is important to follow a few rules and standards. Seven of them are fundamental and applicable, and these are clear, finished, brief, obliging, right, thought to be, concrete. These standards are frequently called 7C for business correspondence. The subtleties of these correspondence standards are examined underneath: Politeness Principle: When conveying, we should build up a cordial relationship with every individual who sends data to us.

To be inviting and polite is indistinguishable, and politeness requires an insightful and amicable activity against others. Axioms are notable that gracious “pay of graciousness is the main thing to win everything”. Correspondence staff ought to consistently remember this. The accompanying standards may assist with improving courtesy:Preliminary considering correspondence with family All glad families have the mystery of progress. This achievement originates from a strong establishment of closeness and closeness. Indeed, through private correspondence these cozy family connections become all the more intently. Correspondence is the foundation of different affiliations, building solid partners of obedient devotion, improving family way of life, and assisting with accomplishing satisfaction (Gosche, p. 1). In any case, so as to keep up an amicable relationship, a few families experienced tumultuous encounters. Correspondence in the family is an intricate and alluring marvel. Correspondence between families isn’t restricted to single messages between families or verbal correspondence.

It is a unique cycle that oversees force, closeness and limits, cohesiveness and flexibility of route frameworks, and makes pictures, topics, stories, ceremonies, rules, jobs, making implications, making a feeling of family life An intelligent cycle that makes a model. This model has passed ages. Notwithstanding the view as a family and family automatic framework, one of the greatest exploration establishments in between family correspondence centers around a family correspondence model. Family correspondence model (FCP) hypothesis clarifies why families impart in their own specific manner dependent on one another ‘s psychological direction. Early FCP research established in media research is keen on how families handle broad communications data. Family correspondence was perceived as an exceptional scholastic exploration field by the National Communications Association in 1989. Family correspondence researchers were at first impacted by family research, social brain science, and relational hypothesis, before long built up the hypothesis and began research in a family framework zeroed in on a significant job. Until 2001, the primary issue of the Family Communication Research Journal, Family Communication Magazine, was given. Family correspondence is more than the field of correspondence analysts in the family. Examination on family correspondence is normally done by individuals in brain science, humanism, and family research, to give some examples models. However, as the popular family correspondence researcher Leslie Baxter stated, it is the focal point of this intelligent semantic creation measure making the grant of family correspondence special. In the field of in-home correspondence, correspondence is normally not founded on autonomous messages from one sender to one beneficiary, yet dependent on the dynamic interdependency of data shared among families It is conceptualized. The focal point of this methodology is on the shared trait of semantic development inside family frameworks. As such, producing doesn’t happen in vacuum, however it happens in a wide scope of ages and social exchange.

Standards are rules end up being followed when performing work to agree to a given objective. Hierarchical achievement relies significantly upon compelling correspondence. So as to successfully impart, it is important to follow a few standards and rules. Coming up next are rules to guarantee powerful correspondence: clearness: lucidity of data is a significant guideline of correspondence. For beneficiaries to know the message plainly, the messages ought to be sorted out in a basic language. To guarantee that beneficiaries can without much of a stretch comprehend the importance of the message, the sender needs to impart unmistakably and unhesitatingly so the beneficiary can plainly and unquestionably comprehend the data.>

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