SIM UOL students lip lais! - Part 5

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captainmarvel

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any micro kings here can help? mark harris T12 last qns. I catch no ball leh. How does it link to oligopoly? and cournot? feeling damn stupid now :/

Part a is not oligopoly, but for part b the application of the question is the same as the theory of Cournot equilibrium.. because Alice and Bill are making a simultaneous decision on quantity (which is the optimal contribution towards the parents' support that Alice and Bill choose). Instead of a regular "profit maximisation" problem, it's a "utility maximisation" one. So you have to write out the utility function of one person, differentiate it and then equate it to zero, to get the maximum utility value. It's the exact same theory as in a regular Cournot question, where you write out the profit function, differentiate it since you're maximising profit!
 

chiwawa23

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Both are looking for quality answer!

Yea, i know. That's why i used practical examples like SIA, Apple, govt depts, some other good egs for IBM while for sociology has to give egs that are found inside the study guide.
 

chiwawa23

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Haha, not like the examiners will actually go conduct in-depth research into all your examples anyway. :s13:

But it would be good to use egs that the examiners know, if u anyhow humtan and provide an eg that's not real, the examiners might know also though of course they won't conduct an in-depth research la.
 

walsly

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But it would be good to use egs that the examiners know, if u anyhow humtan and provide an eg that's not real, the examiners might know also though of course they won't conduct an in-depth research la.

not really leh, when me n my frens took IBM in yr 1, we came out with out own bull**** settings. anyhow create a imaginary company that we worked at and the roles we had :s13: best use those SMEs loh. as long u apply the concepts into appropriate scenarios u will still get credit for it de
 

marbleslab

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Part a is not oligopoly, but for part b the application of the question is the same as the theory of Cournot equilibrium.. because Alice and Bill are making a simultaneous decision on quantity (which is the optimal contribution towards the parents' support that Alice and Bill choose). Instead of a regular "profit maximisation" problem, it's a "utility maximisation" one. So you have to write out the utility function of one person, differentiate it and then equate it to zero, to get the maximum utility value. It's the exact same theory as in a regular Cournot question, where you write out the profit function, differentiate it since you're maximising profit!
can i ask.

for part (a) when max x^1/3 yb why the yb must write as (42-x)? and they put = to x^1/3 -> what does this represent? Issit kind of like a constraint also?

Then in part (b) take bill's best response function as the same as part (a)? the equation there looks the same as part (a) equation. but why is this so when alice is going to contribute?
 

walsly

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can i ask.

for part (a) when max x^1/3 yb why the yb must write as (42-x)? and they put = to x^1/3 -> what does this represent? Issit kind of like a constraint also?

Then in part (b) take bill's best response function as the same as part (a)? the equation there looks the same as part (a) equation. but why is this so when alice is going to contribute?

i remb this 1 from last yr.

part a is to maximise bill's constraint only , that is max x^1/3yb w.r.t x since x is the variable that we're interested. but u cannot maximise with yb in your constraint hence u need to change yb to the form of x using the relationship x+yb=42.

u get [x^1/3](42-x) . maximise this using product rule n setting it FOC equals to zero u will get the form same as the answer le. This qns involves simple basic first order differentiation. No stunts involved. One of eleanor's giveaway qns durin 2011 exam. Last yr oso came out something like this. sibei songs
 

Deadpool.

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But it would be good to use egs that the examiners know, if u anyhow humtan and provide an eg that's not real, the examiners might know also though of course they won't conduct an in-depth research la.

Well, as long as you don't write stuff that's obviously nonsensical (e.g. Nag E.B. from Ang Kong Kia Co. or something), it should be fine. :s22:
 

techkaka

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any audit warriors can advise on how to do well for audit? dont understand specifically on the part on conducting of audit. :(
 

yoowon

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anyone here in manfred's ME class? i didn't managed to save the answers for his tutorial 7 and 8. can anyone send me the files please? thanks in advance.
 

milorinodino

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any audit warriors can advise on how to do well for audit? dont understand specifically on the part on conducting of audit. :(

I wld love to know too! I spoke to some seniors, but they said they barely passed it and have no idea how to attempt the paper well. If anyone can help with audit and fr and me, pls let me know too lol.
 

lynlynz

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schedule

Hi, anyone taking intro to economics?
Possible to tell me the uol revision schedule?? time+date+venue
Need it asap
thanks alot!:s13:
 
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