Re: JNU Doubts

Posted by Granpa Simpson on Apr 16, 2014; 4:53am
URL: http://discussion-forum.276.s1.nabble.com/JNU-Doubts-tp7586990p7586997.html

Q3) use conditional probability and find P(Black dot appears/The student is a cheater), also since whenever a student cheats black dot appears in his sheet so P(Black dot appears)= P(he is a cheater) = 0.05....Now using the formula for conditional probability you will get 1 as the answer.(Guess!!!!!)

Q4) For a competitive firm w=p.MP(L)....also Total Revenue= p.Y
Now MP(L)=0.6*A*(K)^0.4*(L)^-0.4
Also (w/R)= {p.(0.6)*A*(K)^0.4*(L)^-0.4}/{p*A*(K)^0.4*(L)^0.6}
therefore, (w/r)= 0.6*(1/L)
or, (wL/R)= 0.6....hence option a.