Assi 2021-22 Evrt Year, Luly -2021 Session MEC — IO! SECTION - A dons 3D (1) tab comune ae ae ae cods A avd B is u(A,@) = Aa? B [ | pat price of goed A | ba + prin of good B } Tot Lonsurmer 's income Te -danive ati Cty function, we coleutot. the values G) A A and B whidr maximise U subfect te the Oe) = ae ee | abject te pa + po® = © | whine Pas py one the price of good A ane & raspy a ee ee | , va ae ry ee fz + ba 8] (ree cgrcitdons ‘of mast antuation ane ~ lip sag = 6" {aw Aba = 0 aA ee eee =o : are I: and 2 stwnultamcoutly , we get ess sl,— 5S. byA =0 [SRR OE ot r= § pwA | | Pe | hoes | ee be ee bn equation Fo, we get 4 - 2. pe. 31 | 2 pbs Spa eee Spe ine A oo Bis values et ele fusrction, we indinect utiliby, NT oecbenty fae on “(en L Ia | Dual Buell tan cand of tilly aud | f aJa te Lucuase the utility ds depicting the primal demanel along. aimigations el the certs vetved fed of dual demand: She Lust way te solve cellem ef the vcentumenr while makin te sitein maximum wil ty elemcuell pa and incemesshich i the primal comand - can alse acfust the Level of eptintrm that it aseuld’ tke te get ath Ae help of Aecreaiing te colt that UW tune clu to tee duality eh the demand - 5 The vulationship betwen tre oftiorum uel of ouiput doom te utlGty macimi ration 2 ces solutions aud We neath of, vole fpiore! the expedition maximisaiion putas -alen with the nestle of the value fanctions of thre dual prottern ef the in haud anc Ae “mein ospects of the cual sulotionship + Graphically, thre statement can Le gfustifiecd as fellows — 2 - I eel gesds Ui ty fixing te budget (esc prien\ {i | Topic... \ | Date j Seclion -~A Ame d\(o) We trove een that Ihe pooting 2qpuili brian —ie curnnc_frem dine full Jusunance—f eal lg rol feaatlele + There gare, ee “consider c sepanaling. gph unm _insittad: Im —.cassof, spootiug seq li lenZ tin, we Aave clue -fabe cls Liane correspon dling to Lhe — hse. aiffount ons geeups+ Points Ay and A p—pive— wit elunam. paid for dhe han iak —guotpiss—— Group Lhe high weal Arteouse “chs_od.da_of ——— : Lxpenicarcing a “less_ar lower 1 figure Lela Con itu _ftur_edda Sine 0 at in cliff ference. seta -<.dsas— “doin —odda Line forthe 9s Moree, dar arcliffenence—crree— _psiuct Cts btaperthau be _coruspenclisag cunt fea tha —_g2eup Ht Thus ee frat ———_ S| MRS ws sl (2S fon eecoa a nie lous (us) Retheaii). 24 ales Aampassy tne atu pelle C* to 1 dyes bay wonulel Ont oasis of the above figure ue aaake fag pcenclurions —conaroliia the eo grotips, Maid Lo Vj ts the desl policy He dastmaveecoaspany coil offer Zo | tha La Ky bes thot sould mot_od af oe Adit tome ath nact { th pln tly plates its Housteer the fsroblm uit itis drat H types would also Prefer ats Suc -apolicy Mrrefore —__ wf fey Hn H—wetil _pupelnce a pooling ceaysi i lrinin + Toe : Cte valves eneis substcly aif HM dypes take HL Lecaasse Uy. isthe da cl fereaee scunie dor the fully te suned cype He ane ta fe tut Ahait_H Mpa fefte fil ifn, lea ar dbet Ms policy ja subsidised « Fp Ne —ompany —alfens poliey CM tats atasutel aot eleel he Hite ana om offen L types cull alaietlyHorrseyen ia_o_peoli 9 policy - As ave howe — olen tay above et I exist 4 sapilibriuses |Topic..... dercaks Aw, banat cet (Elo tes « _ (by oo oer eo tina Litrity Aascti a. 4 ited Ulu = TE. Wy 2 “ts f tet uj) = 2° Tha ust free U0") = tno = 9.603 m Th fore _orbecticl stilt, Ev = 09-4649 Z, re Pe =) 386 x, | then Ufo) 2 0.49 x the Ulu) = 0693 r2 = 1.386 1 = 3 tin u/s) = 0.693 x = 2-074 Thess shea rent wtih wl) ~ 0-693 thes s gece 7 or ) x 2(2) <= ta AER need wh wife) 26 ned Tale a fantr sche Ule) = 2.079 f Teacher Signature .... ae tt ba tal Retis(V5) azarae feed —abpeanem fap | od ayobeb dhe splaspen ta paid 4 2. 1p xi gue pring coranclecl sohan Ine finul teacl danas spon Hos. i” diol 4 X= RA, Ra, Xa eR The probability of. geting a tbead for ta first ti ie $ Meod “ibis Noa probra bility of gelling -—Gi)_| Since Ate tn pecticl value ofthe gasnat ‘iu 2, tle faeries apes Tina, tle Gamat in tis teinse mot aectte Ea | Large expected tabs ________ af A tolation to—thia —paraclex it twas angased. | thot _tncividua oe A iy B positive expectid imenetany, cmd fne—usea tte tse in utility dines those _coataliia nea atin ilo expected dain gibete payoffs ane Toe samme. A Teacher Signature -..cescseseneeeseens RetihaLean ca aay cae heh Ane le Line : Lean Baral emai aed df nerlidlid edit acl pondir Hy i pete Loy ‘hayes ping Lo. stial onan kit [ens ome ousilren Thus ae tan a Jy Lotions patie _fisum ee a satM gol a re -gh -dG 2o (is) m dE cabled) gy dq da? 2q° da? V 4 Tr ts meted thal 2ach duchaltat’ MR 4 increasing fas rapidly thaw foo Me Sete Gees [Nel that tle _maximidadien pracen fon th coumet | TE golden ta mot the same asin athe cose of ita —| be | tise = bland monepsliat: Tecate of Tint plant | ea | evenspelist, a ting firm control ane value of = | beth output turds. 14 therefore fellouss that the | Mas 6f ths dusheltsd are; is anacessarrily —2qyale ee Las cell lat adhe _vealuesof 2) —ael g2 an — ach thot tach duebelist onaximiaa sor prefits Wain ta —oulfpat ong vii lest des_deaCla— hee out puck Thr thar tgp leriin to obtained — da _aatiafied: tag —aetatiag pon 21d if Gi) the “aunclenlying pyres of — thing « vee Teacher Signatur: os Retihacan adeditional «tip: Reaclion fusrcliona, — aeicacprir tt eudbet ef cach clamp olias ie “a | fasction. often duals sulfur sane acleilananbstd ——-4-8y-sstuting sth fiat spoortion Tu satiation of 29, Civ) ia _ |g 2 2 (B+ be) (A-as - BlA~a2) wai niente “(B+ bo) = 22 4 (6 +b) (@+4,) — 27 Net thot dtr Accond erdin cenclitiens orc satisfied aia an, = -2 (Bib) <0; Bx =~? (B+p,) <0 291 a2, K 5 gr = ¥(a2) Pe oh : Retiha[Foptes cece ae es ve] [[omee samd Abad Ate qi riven, Actudion ia fet #805 9a BO Pa 4S 5 x, = Soo 5, a= Iu, Toa tone canes dhe corel svtition xolucidee duit te —|-\rork cmmpetitioe selon than Ab ran Le ser Pinot thee ouramot munition of fir increase 2 An can compte, arene Aboot tere ane om Lien ete esas henrehs C090, 4a qn ao eee ala Wa he wel. Ben Le P= ag? whine 9-94 gam aA FO and 1 = b= Let ace Aaclinticat and tran dotel cost given = pe eg Cn) tae tn DB homoglnons j-predusct amd Abe —Gisms drexe identical costs pach wilt Aah glo. Te obtain th = aqrgi = eqgi ond pct Bai - = 2a put. |osnaod solulion diftinentiat Pits te tt ete teaniati Hha__firm Gceenca_* dn = (1-29. =92) ~4.-dax =O whine dds =p AG da. 8 41 {inst rca eptimisclienconditinn defines Als Asachin — ¢ ; § fi i 2. . 1 Hae. sptimal ahoeict 44 oul t given Hae _then finn a out ic SL aaa 5h ; Tconpuchie be 20, tn whi got_trone the storndond sceutuael Rea dion fuse Hiner + Toe a ff i i te faut, Jatin "it Alobe- To sot apents capri libre ushere (ocle firoma hove —treNK MG 20-6 Ra. Q = Oae Deis tis detinminel dey substi fee ens —reaxianiding. quart tate the demand eosuation P= 2053 Co #3 eee Pee Ana (7) The Pay of—fo— fio Lee pa tetal pratt Paar Et Tatil & ee | Teacher Signature saeDate ... e . ° 1800 and se tach -fisan ells 900 units TR: + 9cO x so = YS 000 Ti = 900 x 20 = 18,000 = — = 27 — ° 2 * oe ashe [ira sells ISCO tml {TR = 200 X Ing = 20,000 ______ TO = o90 xX 20 = 4 00Q IL = 20000 = 400 = 16,000. TRp = 1500 x50 = #5000 Toa = 1500 x 20 = 30,000 DTa = #5000 = 20nc0 = 45000, TRx = [600 x SQ = 75000 7 To « = 1500 OQ = 30,000 7 TL = 75000 ~- 30000 = 4SO00 - = o. = 7 Te = 200 20 = 4000 = =4o = 7 Teacher Signature .... Retiha: “whe Alpha 'a Pay oy —As_finst awl Betas Day aft | Aecondarel Saat a ee y z Eads player oso _deminant totigy, Cour price [tess bod ee) us ~The equi Orit its therefor [payoffs (22, 22} Cet a te a ee -Chigh price) ihe ou eal cs eme_urhere dhe ost play — iG i ° ° . Bayesian Nash eq iti frtunn an incennplcti toot sits which Teacher Signature 2 RutikaEyitclnine = 1) acl (R eer 1,3 Player | ZN fe Rg £ R 2! oo On o. 1 4 the wormal Perm mbrsatetion » iver —_| (RU WRC o ea efataaati on eum rnc, Pendect yse_ause ths extinalve fpr te pircntatien jaa. So thal game . Teacher Signature .......sssesesssessrsneeessneetenee RithaFe oa age a aa Ee Nak Fapsllitatuan of dhe whole ome» Yo Sects G1’) nd CXR) sane Playing L’ | demiusctis’ Rast should rete huachucleal 4 play Rtg ‘A tharat te —R givin te anes nae [ a de_onercoincumnslarnces | Unels Kalolor Hicks tbiciemey asa outcome ta | comsira mao sffitent tf 0 [net optional tte _eryanpi > aay ne—anracle. | t4idegmas coma tot _neacheol lrg [peffiecat —cermptaration asm inest that ans | Avdten off to those that ar mnrade —t Lurarhe _ Aq that eit seotilel and up me tsorar coff than afore fo Teacher Signature .......sssescssssssrssesesseerese Ritika| K, = <. un , % > hot Ore | emo: Uo\r- olf Abeta Port incproving 2 cutceme sesiilty. Fer example a wedtuaite ——_— 2 | _fastity emopensate the vichis—ef ats Pollution» he — { conepewactidr > _ fee haitd FtTOPIC osssssssssssssossssssssesnsssssssssssnsnsssnssssessssccessseseeeseeceecenees Date ecssssseseses | — -Ge_dluiucd Se ean —___|Nichetaa Kaldor a ———}au_aebon iil ircrease —_| force _ebtimmality if the shinai if nthe Aas __ | Katdon ‘_ lompunaation —_| Ditfpnarners —Ioctueinn Kallas aun Micha Bibacipla af — Cempcu mallen. ‘pt - | Atthougen, sgt hae fait that Jick Compemsalion Pai hy, tad te accept Be. Katdes!e Latanct Micka’ Bah Loewe fos Leen inition prom | witter "Pes dar gainata Fsinsd cof Views This ——_|_Like_hamatheti Teacher Signature ———_| cli . AL ——__ ling toprol te the tebe of te Ta. plier that it tte Paeduction Fiction a Te tortie the _sctiol ths Labatt guint’ thay RetikaTOPIC...ssssessovsecorsssessssnsssserneenssssseessnsosssssscssssesecenseeseseess Date vrssrsessseeers | faeducion{umetion hens nour_tf in Addition = XK eo conttaut. Rat it “ts met ia Hao {Ctl tk) = 2" 0" thine tis oy fon. conciley- fa tapi ae Hing bane Fuwetion is a hemetheli, fursaclion , fast aug Hemoletic Funcllon i. met a ener ee uction. Fi 7 = am —( W/L kK ee a Bie Loy meas Fiactign fer it af: st _give 1s (ar “+k) = 270 CTF \ | t bx Ay > 8, oO B Eig 3 I A Teacher Signature ...seccsssssseessssesesnseesene Rutha[BY es ane tose iofak, ea flbad nd alan —— Te = it + +Q whine Aad QQ represent labour ad eee Ein Paoducb ove Ou ut i ey ae git lit of dts tecdasclaoud opacity poe eat —Padascad ey ts Penlaeeddem —— = F(L)- Then Prelit (x) of tor fin ta diff rsocer doctston tte Teh 0 Raucrsel th) Fi itl Thus K = TR -TC = PO = wed =PR Fat (aera thee FOC wae cota get te cert _rnlel amnishiseg — | Faces demassd Junctions © —tondiitenal Factor Demawd Fusction. Th olenive hese Ack us coasiola sem He — | Hance eeyraitionns of, FOC atest 1,Q and 4 as tha — [iiehiasisn—labtin tin Lana enedos wale off ue ted @ \reag te enecoteaty do _mati that thse functions ane | diffrent frown die Fesctton cleamamel Earsachionns derived, He A Sheplard Leva ana L ' -t ° Ll 5 1 Fe Ee ne at Ia Sense peer [demosad functions cam doe compiled directly fruema dhe — Lstbendilinn fuachinea fom inpiits by partial diffaenlitian {of the sxpudlitue sith Assbect to Laput priser urhidh i] Teacher Signature wrccsssessessssssessssseseseessees Rukaa) ination bspltem + ; SE fe fe =mE CO rege Ligue = t “ana 61 /op = Raat Jad : comb SC1c) / ty = tad (TC) /sp = @ + therefone The sepul ste clemancl fumuchions ore alse —__| SOO / Sy = s1/ Sw =p aud (10) /sp = si /sp = Tae 4 :thot dy ninet of tht mmathwmalicat tiverem asscumes a Away hat omay be the ancl impertarst pari o» 7 | Prtendin fen fetnas coment Sectoat status + —|—fret, Lins acca thed? vans onemn smut be dust att tthe case ft claims _—te_covews. Se | liepreof Acquines wonly ene to ceructin —exd inspite -— -Ows—couscin “2x po day. This effet seas — 4 -be used te produce bananas A build reuse | Assuuphion + €ach person ja endevetd with 10 units sly ef youn Aeusc wal fe H = bo EH, utero _ | saieet, SQ be VY = Saat Go)+9 -O = 3-16 +9 ae ee - (oo — £1) -~oO*%Lan . awsclassical ecpinamicy. OQ te Abou that the trea ia! eee oth words tt ia an ig nat, ad i ana Teacher Signature ......0 Ritha—_|cinolific mit Neecloasical economics is_anol a | | science, it Jamel oven o social science it dr om ideology : i “cal _F, Wee Thine ane tua tactical (Aad Bins tconaney— tcdoutantah Weel, Wee0, uPeo Tp bsth bane : a Up = man (x Cy) VA = max (x~)" y Hr slat te Alsi Bw +h = Px, + Py ite Bt Py We + Puy = Pay + Py Ys [Tis tndownanand fan dhe agua Cl erd 2 )ane Apt 1 $ Wt =|" Wy = 0 Agent rye so, ye = I iz : ee x, Le, Bn hte * Bin) =x =f) p, x, 02) =O a + £0). sles) fmt Sismitonly der Aho case jude fe x. Of.) = he ‘ = ph ——Cii) e A x, (£?,) =(-p(e_o + 6.1) =(-p) fh ——(i) ey fe Teacher Signature oi RitikaTopless | Betting alamanal | rom eynalion (Wand Cs) use gel Kipp fy = ey oy Supply Sian eypat CGrd umn, Wwe (uv). iam tnpeation 02) and CD weg = 2p d=) fh A Le B= £5, +b ty, Py = ———_|Te_ oly er Ake —pruteos alia by solwirag —————— Gr) mad (vi) Li poole: Pa p = few B Teacher Signature seeconsnnnesssecnencencnscnennenees Rittha