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Show that the regression Yi = βo + β1X1i+ Vi satisfies the assumptions of the classical regression. Are the OLS estimators consistent?
Use a graphical illustration to describe briefly what the influence of each of the following would be on the market supply of labour: an increase in immigrants.
The purchase of rice produced this period is included in gdp of the rice is used in a meal a restaurant sells during the same period they buy the rice.
Draw and explain a diagram that illustrates the vicious circle of poverty in DVCs. What positive role can government play in fostering economic growth in developing countries?
Aas the price of tickets rises from 200 to 250 what is the price elasticity of demand (use mid Point) why might vacationers have a different elasticity from business travellers.
Is there any price at which trade is mutually agreeable? Namely, given your answers in (i), is there any price at which you want to buy a used car?
Now suppose that there are three candidates but one of them is non-strategic and takes a fi xed position located at 50. For the two strategic candidates, do the position choices in (i) still constit
Assume the sale of human organs is legalized and a free market develops. Furthermore, assume the market is in equilibrium. Trace through the price and output effects of the following.
Draw relative labor supply and demand diagrams for Home and Foreign showing the effect of this change. What happens to the relative wage in each country?
Why do economists tend to reject the concept of need as the sole determinant of use in favor of the concept of the demand for medical care?
Based on the OLS estimations, and assuming the OLS assumptions hold, what is the marginal effect of the market share of the largest carrier on prices evaluated at the average of that market share?
Monopilist that is able to perfectly price discriminative d) Sweezy oligopolist. How would a small increase in factor prices affect an output and price in each case?
How much would be the explicit costs of the lawyer for running his own law office for the year? How much would be the accounting costs ? The implicit costs? The economic costs?
Determine the firm's profit-maximizing level of output. Compute its profit.Comparing the short-run and long-run results, explain the changes in the price and in the number of firms.
In a competitive market, the industry demand and supply curves are P = 200 - .2Qd and P = 100 + .3Qs, respectively. a.Find the market's equilibrium price and output.
Suppose that one company acquires all the suppliers in the industry and thereby creates a monopoly. What are the monopolist's profit-maximizing price and total output?
OB/GYN physicians always face the highest malpractice insurance premium. Why? Does it just come from the higher risk of OB/GYN medical treatments or any additional factor? Please explain your answe
We are also interested to know how precisely this effect is measured. If you had the data, how would you go about finding the standard error of this estimate?
If population is growing by 5% per year and was not taken into account in the marginal net benefit, how should we alter the solution and allocation?
That is $45,000 will be received at the end of year 5 in addition to the $100,000. At an MARR of 12% and using a present worth criterion, would the purchase of the server be justified?
Any firm that stays out earns a payoff of zero. Draw the normal form of the game, then find the pure strategy and mixed strategy Nash Equilibrium.
Suppose that, in the long run, the price of feature films rises as the movie production industry expands. We can conclude that movie production is a/an?
Describe the main differences between a two-period model which assumes Constant marginal extraction cost (MEC) and a two-period model which assumes increasing marginal extraction cost.
Show that the firm's long run total cost function is LTC = 3.93Q2/3. What are the short run average and marginal cost functions when K=36? Will their graphs be U-shaped? Why?
Imagine a saver that can deposit at a bank but the return is risky. In the good state they receive (1+r)d and in the bad state they only get e. Find the deposit function.