Sample Questions of ISI ME I (Mathematics) 2010 Discussion

[soumen08]

The cdf of a normal distribution is the error function, or erf(x). The graph looks like this
http://mathworld.wolfram.com/Erf.html

Now, imagine the graph shifted up by 0.5 (since probabilities are never negative). Basically, a symmetric graph. The mean is in the middle - 0.5

This is a very intuitive graphical way of looking at things, Im sure there is a more "mathematical" solution somewhere.

[Jim_Moriarity]

Thanks for the reply Soumen, so the answer to be considered is -1/2 or 0 or 1?
Regards

[Jim_Moriarity]

economics no 4.

[soumen08]

The wages must be equal for equilibrium. Does that help?

On 09-May-2015 11:39 am, "Jim_Moriarity [via Discussion forum]" <[hidden email]> wrote:

economics no 4.

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[Jim_Moriarity]

Could you explain a bit more.
I equated the marginal product of both the production functions. Got  equilibrium L1, L2.
Then?

[soumen08]

X1/X2 = (L1/L2)^0.5 x (K_bar/T_bar)^0.5
Now, substitute for L1/L2 from your earlier work.
That should give you an expression for X1/X2 in terms of p1/p2.
Soumen

On 09-May-2015 12:10 pm, "Jim_Moriarity [via Discussion forum]" <[hidden email]> wrote:

Could you explain a bit more.
I equated the marginal product of both the production functions. Got  equilibrium L1, L2.
Then?

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[Jim_Moriarity]

I don't get the 3rd step. :(
I get L1 and L2 in terms of K,T,L.

On Sat, May 9, 2015 at 12:15 PM, soumen08 [via Discussion forum] <[hidden email]> wrote:

X1/X2 = (L1/L2)^0.5 x (K_bar/T_bar)^0.5
Now, substitute for L1/L2 from your earlier work.
That should give you an expression for X1/X2 in terms of p1/p2.
Soumen

On 09-May-2015 12:10 pm, "Jim_Moriarity [via Discussion forum]" <[hidden email]> wrote:

Could you explain a bit more.
I equated the marginal product of both the production functions. Got  equilibrium L1, L2.
Then?

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[June]

If we fix 3 at third place how the no of ways would be 3!*3!*2!. Can u plz explain