- ✔懸賞試題詳解
- ✔購買私人筆記
- ✔購買懸賞詳解
- ✔兌換VIP
(1000顆鑽石可換30天VIP) - ✔兌換現金
(50000顆鑽石可換NT$4,000)
- ✔解答懸賞題目並被選為最佳解
- ✔撰寫私人筆記販售
- ✔撰寫詳解販售(必須超過10讚)
- ✔直接購買 (至站內商城選購)
近期考題
4. Consider a two-period economy (/ = 0, 1). The operating profit of firm j can be expressed as
is the exogenous profitability shock; At is a technology shook at time
t;
is private capital of fimm j. a ＞ 0 is assumed. The depreciation rate of capital k for firm / is
δj. Thus, the investment of firm
, firm j has a liquidation
value of
. The investment in private capital involves adjustment cost 
. The stochastic discount factor between time 0 and 1 is m, where log(m) = logβ + γ(x0 -x1), where 0 ＜β＜ 1, and γ＞ 0. Firm j then chooses ij.0 to maximize its value, which is the sum
of the discounted cash flows from the two periods:
E[.] is an expectation operator. From standard asset pricing equation, 
-Cov0(r1,m). Specifically, the cash flows from t = 0 are equal to the operating profit minus the
investment cost and the adjustment cost. The cash flows from ! = I are equal to the operating
profit plus the liquidation value.
【題組】(1) (10 points) Please drive FOC for maximum firm value, and express it as a form of marginal cost equal to marginal revenue.
四、下圖縱軸是各國學生 PISA 科學成績，橫軸是各國6歲至15歲每位學生的
累積教育經費（Cumulative spending per student，千美元計算）
，且經過購買力平價（purchasing power parity）調整後，得以比較各國經費。請回答下列問題：
【題組】(二)就 R2＝0.01所代表的線，請解說 PISA 科學成績與投入經費之間的關係？（8分）
(A)添加順序不影響混凝效果
(B)混凝劑與pH 調整劑同時添加
(C)先加混凝劑，再添加 pH 調整劑
(D)先加 pH 調整劑，再添加混凝劑
(A)自我探索與成長
(B)自主學習與管理
(C)生涯規劃與發展
(D)尊重與珍惜生命
為多少？