Questions tagged [real-analysis]
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6
questions
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votes
0answers
27 views
Relationship between strictly convex preference and convex preference
Let X be a convex subset of linear topological space and let binary relation >=
be a complete preordering.
prove: If preference relation is strictly convex and continuous, then it is convex.
Since ...
0
votes
2answers
20 views
Real wages fluctuation as per classical economics
I have just started studying Macroeconomics and have noticed that as per the Classical economics, the real wage level will always remain same because any change in price level in the market is ...
0
votes
1answer
36 views
Calculating elasticity between terms in a regression equation
Given the following regression: $ln(w_i)=\beta_1+\beta_2age+\beta_3age_i^2+\beta_4Y_i+\beta_5T_i+\beta_6Mar_i+\epsilon_i$ I am asked to calculate the elasticity of wages with respect to age. Is the ...
0
votes
0answers
27 views
Calculating elasticity between log term and non-log term [duplicate]
Given the following, I am asked to calculate the elasticity of wages with respect to age:
$$ππ(π€_π)=π½_1+π½_2πππ_i+π½_3πππ^2_π+π½_4π_π+π½_5π_π+π½_6πππ_π+π_π$$
How does one ...
1
vote
0answers
21 views
What problems arise when the minimum wage is directly linked to the inflation rate?
For example if the minimum wage is 10, and the inflation for the year is 3%, then next year the minimum wage is 10*1.03 =10.30. the next year, inflation is 5%, so the minimum wage becomes 10.82.
The ...
1
vote
1answer
76 views
Supporting Hyperplane Theorem and quasiconcave utility function
My notes says that if $u(.)$ is strictly quasiconcave and differentiable, by the supporting hyperplane theorem, there exists $p >>0$ and $w \geq 0$ such that $ x = x(p,w)$ $\forall x$. I am ...
