Find a 3 x 3 stochastic matrix A that has exactly one initial state vector that will generate a Markov chain with a steady-state vector.A=0.40.30.30.20.60.20.10.40.5

The objective of the question is to find an initial state vector that will generate a Markov chain…

Answered: Find a 3 x 3 stochastic matrix A that…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Q4 Identify the Types of the following Functions: C = f(Q) = Q³ – 5Q² + 14Q + 50,. AR = f(Q) = 15 – Q, .. .
For a certain company, the cost for producing x items is 60x + 300 and the revenue for selling x items is 100x – 0.5x². - The profit that the company makes is how much it takes in (revenue) minus how much it spends (cost). In economic models, one typically assumes that a company wants to maximize its profit, or at least wants to make a profit! Part a: Set up an expression for the profit from producing and selling x items. We assume that the company sells all of the items that it produces. (Hint: it is a quadratio polynomial.) Part b: Find two values of x that will create a profit of $300. The field below accepts a list of numbers or formulas separated by semicolons (e.g. 2; 4; 6 or x + 1; x – 1). The order of the list does not matter. To enter va, type sqrt(a). x = Part c: Is it possible for the company to make a profit of $15,000?
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Differentiate the function. g(x) = (x⁹ - 8x)-2 g'(x) = Differentiate the function. 5 f'(s) = f(s) = (2s7 + 1)4 Differentiate the function. 1 g(x) = (2x+5x+1) 3/4 g'(x) = Differentiate the function. dy y = √√√3x² + 6x + 2 dx
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The demand and supply of pizza is defined by the following equations: Qd = D(P, Y ) = 1 + Y − 2P Qs = D(P, PM) = 2 P/PM where, Qd is quantity demand, P is the price of each pizza sold, Y is the average income of consumers, Qs is the quantity supplied, and Pm is the price of inputs used in the production of pizza. (a) List the endogenous and exogenous variables of this model (b) Find the equilibrium price Pe and quantity Qe of pizza as a function of the exogenous variables. (c) Use a simple demand and supply diagram to show what happens to the equilibrium price and quantity when there is an increase in one of the exogenous variables.
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Find a 3 x 3 stochastic matrix A that has exactly one initial state vector that will generate a Markov chain with a steady-state vector. A= 0.4 0.3 0.3 0.2 0.6 0.2 0.1 0.4 0.5