## 经济代写|Microeconomics代考微观经济学代写|Course14

2022年7月18日

couryes-lab™ 为您的留学生涯保驾护航 在代写Economics方面已经树立了自己的口碑, 保证靠谱, 高质且原创的统计Statistics代写服务。我们的专家在代写Economics代写方面经验极为丰富，各种代写Economics相关的作业也就用不着说。

• Statistical Inference 统计推断
• Statistical Computing 统计计算
• (Generalized) Linear Models 广义线性模型
• Statistical Machine Learning 统计机器学习
• Longitudinal Data Analysis 纵向数据分析
• Foundations of Data Science 数据科学基础
couryes™为您提供可以保分的包课服务

## 经济代写|Microeconomics代考微观经济学代写|Factor Demand Curves, Cost Function and Equilibrium

Now let us proceed to study the determination of a simultaneous equilibrium in the three markets of this economy: the labour market, the land market and the corn market. Labour is all of the same quality, land too.

For simplicity assume that the aggregate supply of labour to firms, call it $L^{}$, is rigid, that the same holds for the supply of land $T^{}$, and that there are no savings: the income of a period is entirely spent on the product of that period.

Production is carried out by firms. The person who sets up a firm and owns the residual profits, if any, after factors have been paid, is called an entrepreneur. ${ }^{6}$ The entrepreneur is not a factor of production, she/he is only the owner of the firm, who decides whether to set up the firm or close it down; if she also works in it, one separates logically the role as entrepreneur from the role as labourer (possibly as manager); as labourer, the person gets a wage; as entrepreneur, the profits.
For equilibrium to obtain, the supply of factors must be absorbed by the demand for factors. The assumption that the income of a period is entirely spent on the product of that period guarantees equilibrium in the corn market: by definition, the aggregate income per period of this economy is the value of aggregate corn production, which is distributed to some consumer or other as wages, as rents and as profits (possibly negative for some firms). Since this income is by assumption all spent in the purchase of the product, supply of corn and demand for corn are necessarily equal whatever the level of factor employment and of corn production and whichever the rate of wages and the rate of rent. What remains to be studied is the forces acting in the labour market and in the land market.

Assume initially that landlords (the owners of land) and workers are two separate groups of people, and furthermore that the landlords act as entrepreneurs, each one setting up a firm with his own land and hired wage labour. Then equality between supply and demand for land is guaranteed; the sole market where equilibrium between supply and demand must be reached by price adjustment is the labour market.

## 经济代写|Microeconomics代考微观经济学代写|Importance of Factor Substitutability

The tendency toward equilibrium simultaneously on both factor markets crucially relies on the fact that, if the amount employed of one factor is given, the demand curve for the other factor is decreasing. We have seen that this is a manifestation of the fact that the proportion $L / T$ in which firms desire to use the two factors increases if labour becomes less expensive relative to land. If $T$ is given, this means more demand for labour.

The variability of the proportion $L T$ means that one can substitute to some extent a factor with the other in the production of a certain output. Thus in this economy the reason for the existence of decreasing demand curves for factors is the existence of direct, or technological, factor substitutability. Let us clarify its importance by showing the effects of its absence.

Suppose there is no substitutability between labour and land: only one fixed-coefficients method is known for the production of corn, which requires the use of 8 units of labour and 4 units of land per unit of output, i.e. the use of the proportion $L / T=2$. If the ratio between labour supply and land supply $L^{} / T^{}$ is greater than 2 , some labour is inevitably unemployed and if as long as there is labour unemployment the wage rate decreases, since we have assumed a given labour supply the equilibrium wage rate can only be zero and land rent absorbs the entire product. If $L^{} / T^{}<2$, land is necessarily partly unemployed and $\beta$ falls to zero while wages rise to absorb the entire product. If $L^{} / T^{}=2$, the full employment of one factor entails the full employment of the other too, but income distribution is indeterminate; and the situation would in all likelihood not last, any change in population would destroy the equality. The thesis, that income distribution is determined by the tendency toward equality between supply and demand for each factor, becomes implausible: it would entail that generally one factor obtains a zero rental, against observation.

# 微观经济学代考

## 有限元方法代写

tatistics-lab作为专业的留学生服务机构，多年来已为美国、英国、加拿大、澳洲等留学热门地的学生提供专业的学术服务，包括但不限于Essay代写，Assignment代写，Dissertation代写，Report代写，小组作业代写，Proposal代写，Paper代写，Presentation代写，计算机作业代写，论文修改和润色，网课代做，exam代考等等。写作范围涵盖高中，本科，研究生等海外留学全阶段，辐射金融，经济学，会计学，审计学，管理学等全球99%专业科目。写作团队既有专业英语母语作者，也有海外名校硕博留学生，每位写作老师都拥有过硬的语言能力，专业的学科背景和学术写作经验。我们承诺100%原创，100%专业，100%准时，100%满意。

## MATLAB代写

MATLAB 是一种用于技术计算的高性能语言。它将计算、可视化和编程集成在一个易于使用的环境中，其中问题和解决方案以熟悉的数学符号表示。典型用途包括：数学和计算算法开发建模、仿真和原型制作数据分析、探索和可视化科学和工程图形应用程序开发，包括图形用户界面构建MATLAB 是一个交互式系统，其基本数据元素是一个不需要维度的数组。这使您可以解决许多技术计算问题，尤其是那些具有矩阵和向量公式的问题，而只需用 C 或 Fortran 等标量非交互式语言编写程序所需的时间的一小部分。MATLAB 名称代表矩阵实验室。MATLAB 最初的编写目的是提供对由 LINPACK 和 EISPACK 项目开发的矩阵软件的轻松访问，这两个项目共同代表了矩阵计算软件的最新技术。MATLAB 经过多年的发展，得到了许多用户的投入。在大学环境中，它是数学、工程和科学入门和高级课程的标准教学工具。在工业领域，MATLAB 是高效研究、开发和分析的首选工具。MATLAB 具有一系列称为工具箱的特定于应用程序的解决方案。对于大多数 MATLAB 用户来说非常重要，工具箱允许您学习应用专业技术。工具箱是 MATLAB 函数（M 文件）的综合集合，可扩展 MATLAB 环境以解决特定类别的问题。可用工具箱的领域包括信号处理、控制系统、神经网络、模糊逻辑、小波、仿真等。