中级宏观经济学|Intermediate Macroeconomics代写 5QQMB205代考

0

这是一份KCL伦敦大学学院5QQMB205作业代写的成功案

中级宏观经济学|Intermediate Macroeconomics代写 5QQMB205代考
问题 1.

Definition. $G_{1} \wedge G_{2}$ is the simple game with $N=N_{1} \cup N_{2}$ and $S \in \mathscr{W}$ if and only if $S \cap N_{1} \in W_{1}$ and $S \cap N_{2} \in W_{2}$.

Definition. $G_{1} \vee G_{2}$ is the simple game with $N=N_{1} \cup N_{2}$ and $S \in \mathscr{W}$ if and only if $S \cap N_{1} \in \mathscr{W}{1}$ or $S \cap N{2} \in \mathscr{W}_{2}$.


证明 .

Thus to win in $G_{1} \wedge G_{2}$ a coalition must win in both $G_{1}$ and $G_{2}$, whereas to win in $G_{1} \vee G_{2}$ it must win either in $G_{1}$ or $G_{2}$.
Consider the following axioms for a power index $K$ :
Axiom 1. $K_{i}(G)=0$ if and only if $i$ is a dummy in $G$.

英国论文代写Viking Essay为您提供实分析作业代写Real anlysis代考服务

5QQMB205 COURSE NOTES :

$$
c=\int \frac{u(x)}{u^{\prime}(x)}
$$
and call $c$ the tax credit. Also let
$$
\eta(t)=\frac{u_{t}^{\prime}(x(t))}{u_{t}(x(t))} x(t) .
$$
Then one can calculate
$$
x(t)=\frac{\eta(t)}{1+\eta(t)}[c+e(t)] .
$$




金融基础知识|Fundamentals of Finance代写 5QQMB201代考

0

这是一份KCL伦敦大学学院 5QQMB201作业代写的成功案

金融基础知识|Fundamentals of Finance代写 5QQMB201代考
问题 1.

Step 1. Calculate the opportunity cost of capital.
$$
\begin{aligned}
r &=r_{D} D / V+r_{E} E / V \
&=.09(.3)+.15(.7)=.132, \text { or } 13.200
\end{aligned}
$$
Siep 2. Calculate the new costs of debt and equity. The cost of debt will be higher at $50 \%$ debt than $30 \%$. Say it is $r_{D}=.095$. The new cost of equity is:
$$
\begin{aligned}
r_{E} &=r+\left(r-r_{D}\right) D / E \
&=.132+(.132-.095) 50 / 50 \
&=.169, \text { or } 16.99
\end{aligned}
$$


证明 .

Siep 3. Recalculate WACC.
$$
\begin{aligned}
\text { WACC } &=r_{D}\left(1-T_{d}\right) D / V+r_{E} E / V \
&=.095(1-.35)(.5)+.169(.5)=.1154, \text { or about } 11.5 \%
\end{aligned}
$$

英国论文代写Viking Essay为您提供实分析作业代写Real anlysis代考服务

5QQMB201 COURSE NOTES :

upside change – downside change
In the case of Google stock:
$$
p=\frac{.015-(-.25)}{.333-(-.25)}=.4543
$$
We know that if the stock price rises, the call option will be worth $\$ 143.33$; if it falls, the call will be worth nothing. Therefore, if investors are risk-neutral, the expected value of the call option is:
[Probability of rise $\times 143.33]+[(1-$ probability of rise $) \times 0]$
$$
\begin{aligned}
&=(.4543 \times 143.33)+(.5457 \times 0) \
&=\$ 65.11
\end{aligned}
$$
And the current value of the call is:
$$
\frac{\text { Expected future value }}{1+\text { interest rate }}=\frac{65.11}{1.015}=\$ 64.15
$$