What is the inequality relationship
Response to the following problem:
Entropy of functions.
Let X be a random variable taking on a finite number of values. What is the (general) inequality relationship of H (X) and H (Y ) if
(a) Y = 2X?
(b) Y = cos X
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In general, the variance of the distribution of an estimator decreases when the sample size. Is it correct to describe the estimator as becoming more efficient?
Its marginal product of labor is MPL = 3L2- 400L + 10,000. At what amount of labor input are the firm's average and marginal product of labor equal?
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Emily draws cartoons that she sells to her classmates. What is her marginal product of labor at one, two, three, and four hours of work?
Let X be a random variable taking on a finite number of values. What is the (general) inequality relationship of H (X) and H (Y ).
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How would you measure consumer surplus if the demand curve is upward sloping? Warning: this is a trick question.
How many hours will she work if she earns $20 per hour? Find a formula for her labor supply curve. Is it upward or downward sloping? Why?
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